New Delhi, May 23 (Commoditiescontrol): Bihar maize prices continued to trade steady to firm today, supported by active stocking and unfavourable weather conditions. However, sluggish buying from manufacturers has limited significant price gains. Sentiments in the maize market are also bolstered by an uptrend in other commodities such as wheat, barley, mustard, cotton oil cake, and bajra.
In Gulabbagh mandi, prices increased by Rs 10, quoting at INR 2180-2200 per quintal. Active stocking and rack loading are driving the price support, with stockists actively buying to meet their stocking requirements, causing rack buyers to increase prices by Rs 5-10 per quintal.
Recent rains in Bihar’s major maize-producing zones have slowed down the harvesting process. Although the weather cleared today, more rains are expected in the coming days, potentially impacting both the quality and quantity of the maize crop. This season has already seen a significant bulk quantity of maize delivered out of Bihar, nearly double compared to the same period last year, with around 27 rake points active.
Imported maize prices rose sharply to INR 2480 per quintal at Tuticorin port late yesterday, marking an increase of about INR 100 over the past couple of weeks. Myanmar sellers are currently inactive. Prices in Andhra Pradesh and Karnataka also traded up by INR 20 per quintal, ranging between INR 2550-2570 per quintal, with supplies coming from Bihar and Tuticorin port.
Given the current scenario, with ongoing active stocking, reduced harvests due to adverse weather, and higher imported maize prices, a significant decline in maize prices seems unlikely in the near term.
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