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Maize Prices Continue Upward Trend Amid Declining Arrivals and High Demand

16 Dec 2024 6:28 pm
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New Delhi, December 16 (Commodities Control): Maize prices have been steadily increasing across major markets, driven by robust demand and declining kharif arrivals. Over the past week, prices have risen by ₹40-60 per quintal, with significant price movements in key mandis.

In Amalner Mandi, arrivals have decreased sharply to around 400 tons, compared to a peak of 1,500-1,600 tons. Prices of loose maize have surged by ₹120-130 per quintal in the past two weeks, now ranging between ₹2,180 and ₹2,270 per quintal.

In Sangli Mandi: maize prices climbed by ₹50-70 per quintal this week, reaching ₹2,380-2,500. Arrivals are over 50% lower than peak levels.
Chhindwara Mandi saw prices increased by ₹30 today, with a range of ₹2,350-2,380 per quintal. Arrivals have dropped significantly from 70,000-80,000 quintals to just 25,000-28,000 quintals.

In Bagalkot Mandi, prices are up by ₹30 per quintal, currently at ₹2,350-2,400. Tamil Nadu prices rose by ₹50, reaching ₹2,500-2,550, though further price hikes are unlikely as new crops are expected in late January 2025.

Punjab and Haryana saw prices increased by ₹20-30 per quintal due to limited availability of lower-priced supplies.

In Gulabbagh Mandi prices rose by ₹50 per quintal over the past week to ₹2,650-2,725, while arrivals plummeted to just 100-150 tons.

Kharif arrivals have fallen substantially, down to 30-40% of peak levels and expected to decline further to 10-20% in the coming weeks. Fresh Rabi arrivals from Bihar are expected by April, while Maharashtra anticipates arrivals in March-April. Reduced summer arrivals in Karnataka and Maharashtra are expected between late January and early February.

In Tamil Nadu, Cyclone Fengal has delayed harvesting by 15-20 days, with the crop now expected in February. The cyclone has affected 40,000 hectares, potentially reducing farm yields by 30-40%, which could support higher prices for imported maize.

Indian starch operators have reportedly contracted Ukrainian maize shipments, with 1-2 vessels expected to arrive at Vizag port in January 2025.

Given declining domestic stock levels and steady demand, maize prices are expected to remain stable to firm in the near term. The limited availability of domestic supplies and potential delays in fresh crop arrivals will likely keep the market under pressure, particularly in the southern and eastern regions.

(By Commoditiescontrol Bureau; +91 98201 3018)


       
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