New Delhi, April 29 (Commoditiescontrol): Maize supplies in Maharashtra mandis are facing a notable decline, caused by weaker Rabi yields compared to the previous year. Reports indicate a significant drop in arrivals, particularly evident in key mandis across the state.
In Amalner mandi, arrivals hover around 400 to 500 metric tons, with prices ranging from INR 2100 to 2130. However, market analysts predict a substantial decline in arrivals in the coming days, as Rabi supplies remain approximately 20 to 25% lower compared to the previous year. Additionally, trade deals for Bihar maize, valued at around INR 2270 to 2280, are being struck for North Maharashtra line deliveries in the upcoming weeks.
While companies are actively stocking up, private traders appear less enthusiastic due to prior losses and existing stocks from the Kharif season. Concerns loom over the possibility of lower rate imports by starch producers in the region in the coming months.
In Pune, maize prices witnessed a decline last week due to limited availability. However, the situation is expected to improve as supplies from Bihar, priced at around INR 2400 to 2420, are anticipated for Ahmednagar and Supa line deliveries. Freight costs from Bihar to these destinations are estimated at INR 300 per quintal, with potential increases as loading escalates.
Rack deals for Bihar maize are on the rise, fetching prices ranging from INR 2350 to 2370 for Sangli line deliveries. Maharashtra participants are closely monitoring Bihar maize trends, suggesting a potential alignment of Maharashtra maize prices with Bihar's trajectory in the near future.
In Chhindwara mandi, arrivals have dwindled to a mere 200 tons, with prices quoted at INR 2150 to 2200. With negligible new Rabi supplies in the region, buyers are turning their attention to Bihar for fresh maize sources.
Meanwhile, Neemuch line delivery for Bihar maize is pegged at INR 2285 for the period of May 10-30, indicating sustained demand from certain regions.
In Karnataka, maize prices have surged by INR 50 to 75 per quintal over the past 10 to 12 days, reaching INR 2420 to 2430 per quintal. Disappointing Rabi yields have contributed to this uptick, with production falling short of last year's figures.
Tamil Nadu buyers are currently quoting INR 2430 for delivery, while ethanol and starch producers in Karnataka are offering prices between INR 2400 to 2410 for delivery.
As Telangana's new Rabi maize supplies weaken, buyers in the region may increasingly rely on sourcing from Bihar in the coming months.
The prevailing trend underscores the crucial role Bihar maize plays in stabilizing regional markets amid fluctuating supply trends. With uncertainties hovering, stakeholders across Maharashtra are closely monitoring Bihar's maize market for cues and potential impacts on local prices in the future.
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