Maize Prices Maintain Stability in Key Markets

New Delhi, February 16 (CommoditiesControl): Maize prices across various regions have remained range-bound, displaying stability in key markets. In Maharashtra, maize prices have held relatively steady at Rs 2,300-2,310 per quintal.

This stability has persisted for the past 8-10 days, with regular purchases from poultry and ethanol buyers. However, starch producers are engaging in slower buying activities as they have already booked a limited number of import cargoes.

In Tamil Nadu, prices opened at Rs 2,400-2,410 per quintal a few days ago. Large poultry buyers paused their purchases for two days, leading to prices hovering around Rs 2,370-2,380 per quintal. There are expectations of a correction in Tamil Nadu maize prices from this point.

Chhindwara saw arrivals decline to around 5,000-6,000 quintals, with prices holding steady at Rs 2,280-2,300 per quintal. The expectation is that maize prices will trade steady to firm in the near term as nearby buyers are unlikely to find supplies at lower prices.

In Kolkata and Kharagpur, maize prices have remained steady at Rs 2,525-2,550 per quintal over the last few days. Demand from bulk buyers is relatively sluggish, and the Assam crop is expected to arrive in the first week of March, with loading for outside states beginning in mid-March. The West Bengal crop is anticipated to start in March, post the Holi festival.

Bihar maize traded stable at Rs 2,315 per quintal as stockists liquidated their stocks, exerting some pressure on prices. However, most bulk stockists still hold some inventory.

Stability has been observed in maize prices across major centers. In Punjab, Haryana, and Uttarakhand, buyers have maintained consistent purchase rates. However, a few buyers are less active in buying due to substantial recent purchases. Punjab and Haryana are trading at Rs 2,550-2,575 per quintal.

Seetapur, an ethanol producer, temporarily halted purchases after acquiring bulk quantities in recent weeks. Other ethanol-producing buyers remain active in the range of Rs 2,400-2,420.