Mumbai, March 28 (Commodities Control): Bihar maize prices experienced rangebound trading today, as current supplies adequately met present demand levels. Buyers remained cautious ahead of the new crop, contributing to subdued buying activity. Additionally, selling activity was lackluster, typical of the end-of-March period.
Around 1500 bags of new maize arrived in the Gulabbagh mandi, with prices holding almost steady at INR 2350-2400. Although slight weather disturbances were observed today, overall weather conditions are expected to clear up within a day, with increased arrivals anticipated from the next week.
Crop conditions in Bihar have remained considerably good thus far, with minimal impact observed on quality or quantity due to recent rains. Maize sowing in Bihar is reported to be around 15-20% higher compared to the previous year.
New Bihar maize is currently being traded in Bihar and Assam zones. As arrivals pick up in the coming week, maize distribution is expected to extend to UP and northern states like Punjab and Haryana. However, deliveries to Maharashtra and Southern zones are unlikely in the near term due to existing disparities.
As arrivals increase in Bihar, prices are anticipated to decline by INR 100-150 per quintal in the near term.
In other regions, maize prices in Davengere are trading at INR 2300 per quintal, while in consumption markets like Bangalore, prices are at INR 2380 per quintal, with supplies sourced from AP and Telangana. Meanwhile, prices in MP Chindwara remain steady at INR 2250 per quintal, with limited trade activity due to year-end considerations.
Although new arrivals are rising in Telangana and Maharashtra, buyers are readily purchasing maize at relatively lower rates. Poultry producers are managing well with these rates, as their product prices remain relatively stable. Attention is now focused on the new crop in the Jalgaon zone.
If bumper new arrivals occur in the Jalgaon zone, maize prices may decline by INR 75-100. However, if pressure remains normal, price declines are unlikely to exceed INR 50 per quintal. Overall, Pune line poultry prices, currently at INR 2380 per quintal, could potentially drop below INR 2320-2330 levels in April.
With Telangana maize arrivals expected to maintain pressure for the next 40-60 days, maize prices may trade steadily to weak in South India throughout April. However, prices are anticipated to regain strength in May, supported by increased domestic buying and declining new arrivals.
0 Comments 
Post Comment 
