New Delhi, October 09 (CommoditiesControl): Maize prices traded steadily today as current supply levels effectively balanced demand across various markets.
In Karnataka, arrivals reached 5,500 tons at mandis such as Haveri and Davanagere, with mandi prices ranging from INR 2200 to INR 2450 per quintal. Prices at starch plants were slightly higher, trading between INR 2400 and INR 2450 per quintal. Most arrivals exhibited moisture content between 15-17%, while about 20% had moisture levels of 14-15%. Rake bilty for Andhra Pradesh and Tamil Nadu is being traded at INR 2400-2450, with delivered prices reaching INR 2575-2600 per quintal. Clear weather in Karnataka suggests that arrivals may increase in the coming days.
In AP and Telangana, arrivals totaled 2,500 tons, with mandi prices also between INR 2200 and INR 2450 per quintal. The poultry sector in these regions is driving high demand, with aggressive purchases from Karnataka.
The Jabalpur mandi in Madhya Pradesh received around 1,200 quintals, with prices ranging from INR 2350 to INR 2450 per quintal for maize with moisture content of 14-16%. Overall arrivals in Madhya Pradesh were estimated between 5,000 and 10,000 quintals. Despite recent significant rainfall damaging about 10-15% of maize crops in the Jabalpur/Chhindwara/Seoni region, sowing levels this year have been approximately 10-15% higher than last year, mitigating the potential impact on supply.
In the Eastern zone, West Bengal and Assam, previously reliant on Bihar stocks, are now experiencing increased demand, largely driven by the expansion of ethanol plants. As a result, Bihar stocks may fall short of meeting the upcoming demand in these regions.
Currently, warehouse spot prices in Madhya Pradesh are quoted at INR 2350 per quintal, and factoring in an additional INR 300 for freight, maize delivery prices to the Eastern zone are approximately INR 2650 per quintal. This situation suggests that increased Kharif arrivals may not exert downward pressure on prices in the Bihar zone.
Looking ahead, Bihar maize prices are likely to rise, particularly as Kharif maize prices typically increase after reaching a low point between late October and early November, coinciding with stockist activity.
In the broader context, maize remains the most affordable cereal in poultry feed. Meanwhile, bajra is trading higher at INR 2500 per quintal in Rajasthan due to crop damage, with delivered prices from Rajasthan to Karnataka reaching INR 2800 per quintal. Additionally, broken rice prices are elevated at INR 2800-2850 per quintal due to limited availability. As prices approach INR 2350 per quintal for rake bilty, aggressive buying is anticipated, although prices may touch INR 2300 per quintal by the end of October or early November with expected bumper arrivals.
(By Commoditiescontrol Bureau; +91 98201 3018)
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