New Delhi, April 30 (CommoditiesControl): Bihar maize prices exhibited stability today, with active godown stocking and rack loading offsetting the impact of increasing arrivals. While some ethanol buyers reduced activity, overall market dynamics point to limited price volatility in the near term.
New maize reached the Gulabbagh mandi in volumes of around 5,000 MT, trading at INR 2010-2040 per quintal. Godown stockists were significant buyers, though some ethanol producers have slowed purchases after securing deals and facing logistical constraints.
Processors remain cautious despite improved stocking, as ample supplies in Bihar mandis and a promising Uttar Pradesh (UP) crop outlook limit buying urgency. The new UP maize harvest, expected to surpass last year's by 20%, will begin arriving in late May.
Chhindwara mandi arrivals dipped to 200 tons, with prices at INR 2150-2200. Negligible Rabi season output in this region will likely shift buyer focus towards Bihar for fresh supplies. Neemuch line delivery quotes for Bihar maize stand at INR 2285 for May 10-30.
Karnataka maize prices have climbed by INR 50-75 per quintal to INR 2420-2430 in recent days, as the Rabi crop underperforms expectations. This contrasts with increased buying interest from Karnataka ethanol and starch producers, offering INR 2400-2410 (plant delivery), while Tamil Nadu buyers are at INR 2430 (plant delivery).
Weakening Rabi supplies in Telangana could further concentrate demand on Bihar maize in upcoming months.
Short-term price fluctuations in Bihar are expected to be muted. Active stocking suggests a price floor, while ample arrivals and the impending UP crop should cap significant increases.
(By Commoditiescontrol Bureau: 09820130172)
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