New Delhi, March 27 (Commoditiescontrol): Maize prices maintained stability across major centers today, with buyers adopting a cautious approach ahead of the new crop season. Stockists liquidating their stocks and the onset of new arrivals in Bihar contributed to the ease in supplies.
In Bihar, prices traded steady at Rs 2380-2400 per quintal, with the old crop fetching Rs 2400-2425 per quintal. Clear weather conditions indicate the potential for improved arrivals in the coming weeks, which could exert downward pressure on prices.
In Himmatnagar (Gujarat), ready prices stood at Rs 2300 on Saturday. However, prices for April 15 delivery were quoted at Rs 2275 per quintal, and April 30 delivery prices at Rs 2250 per quintal. This suggests an anticipated downward trend in the coming months.
Despite increasing new arrivals in Telangana and Maharashtra, buyers are still actively purchasing maize at relatively lower rates. Poultry businesses are adapting well to the lower rates, as their products continue to fetch favorable prices. Attention is now focused on the new crop in the Jalgaon zone.
The possibility of bumper new arrivals in the Jalgaon zone may lead to a decline in maize prices by Rs 75-100. However, if pressure remains normal, prices are unlikely to decline by more than Rs 50 per quintal. Currently, poultry prices in the Pune line are at Rs 2380 per quintal but are anticipated to decline below Rs 2320-2330 levels in April.
In Telangana, new arrivals are gradually increasing in pace. Trade deals for Telangana maize for Sambhajinagar distillery were concluded at Rs 2300. With Telangana maize arrivals expected to maintain pressure for the next 40-60 days, maize prices may trade steady to weak in South India throughout April.
Looking ahead, maize prices are projected to trade steady to weak in April due to increasing new arrivals. However, prices may see an uptick again in May, supported by heavy domestic buying and declining new arrivals.
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