New Delhi, May 7 (Commoditiescontrol): In Bihar, the maize market continued its steady trend today, with ample supplies meeting existing demand, despite a slowdown in trade activity attributed to ongoing elections in major centers. At the Gulabbagh mandi, prices held firm at INR 2080-2110 per quintal, reflecting the stability in the market. However, arrivals in this zone have been slightly hampered by the electoral proceedings.
One notable trend impacting the market is the reduced activity from bulk south buyers, who are opting for relatively lower-priced imports from Myanmar. This preference is influenced by the comparatively high domestic prices in India, which have weakened the country's maize exports. Consequently, India finds itself in the position of importing maize from countries like Myanmar and Ukraine.
Approximately 2.5 lakh tons of maize are anticipated to be imported from Myanmar, with some shipments encountering cancellations while others have already reached Tuticorin port. Trade deals for imported maize at Tuticorin port are being finalized at USD 258-265 per ton CNF, with stocks offered at INR 2380 for loading between May 20-25, providing a clearer picture of the import dynamics in the region.
Meanwhile, in Andhra Pradesh, maize prices remained steady at INR 2250 per quintal, with arrivals totaling 4500 MTs. In Tamil Nadu, where elections also play a role in market dynamics, prices were recorded at INR 2450-60 per quintal, maintaining stability amidst the electoral fervor.
With the arrival of imported maize supplies, market analysts suggest that a significant uptick in Indian maize prices in the near term appears unlikely.
0 Comments 
Post Comment 
