Maize Prices Decline Amid Increased Arrivals and Quality Issues

New Delhi, November 4 (Commodities Control): Maize prices across major Indian states displayed a stable-to-weak trend today, pressured by rising arrivals in multiple regions. Prices dipped by INR 20-50 per quintal in key states as buyers adapted to the influx.

In Madhya Pradesh’s Chhindwara mandis, arrivals reached approximately 45,000 quintals, with prices ranging from INR 2000 to 2450 per quintal. High-quality maize here saw a decrease of INR 20-30 per quintal. Despite healthy arrivals in MP’s primary mandis, stockists remain cautious due to concerns over quality.

Karnataka reported maize arrivals of 19,000-20,000 metric tons, though quality issues persist. Nearly half of Karnataka’s maize shows 15-30% moisture and 8-10% damage from fungus and water. Karnataka's poultry sector is currently purchasing at INR 2475-2600 per quintal, down by INR 50 per quintal, with price variations attributed to payment terms. Ethanol producers are buying at INR 2350-2400 per quintal, while starch companies are purchasing at INR 2350-2475 per quintal. Increased arrivals have softened Karnataka’s market prices.

In Andhra Pradesh and Telangana, poultry buyers are also observing reduced rates, with Andhra Pradesh paying INR 2600-2700 and Telangana’s rate at INR 2550-2650 per quintal, both down INR 50-100. However, Tamil Nadu saw a price reduction of INR 40, concluding at INR 2510 per quintal.

Eastern Indian buyers are turning to limited Kharif maize supplies as demand rises, especially for Bihar’s superior quality grain. Prices in Bihar remain firm at INR 2580-2650 per quintal. Rake purchases have also resumed, with Bagalkot sending shipments to Kolkata at INR 2650 per quintal.

North Maharashtra saw steady-to-weak prices in recent sessions, primarily from pressure on supply. Prices here are buoyed by export demand, with 14% moisture maize destined for Sri Lanka trading at INR 2350-2400 per quintal. However, it is unlikely that North Maharashtra prices will fall more than INR 20-30 per quintal, given the expected increase in arrivals.

Internationally, Myanmar's maize price stands at USD 292 per ton (CFR). The current rate has led to the cancellation of many import transactions, as Burmese suppliers resist selling at these levels.

With the South, Central, and Western Indian markets adjusting to arrivals, experts predict minimal price drops of no more than INR 30-50 per quintal, as demand from ethanol and poultry sectors remains steady.

(By Commoditiescontrol Bureau; +91 98201 3018)