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Maize Prices Hold Steady Amid Sluggish Warehouse Activity

5 Dec 2024 6:05 pm
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New Delhi, December 5 (CommoditiesControl): Maize prices traded steady to slightly weak across major centers today, as reduced warehouse activity applied downward pressure. However, regular rake loading activity helped limit the decline.

In the Jalgaon zone, warehouse prices remained steady at ₹2,350-2,375 per quintal compared to the last session. Slowing warehouse buying, combined with good supply pressure from Sillod (ghat line), has kept prices subdued. Arrivals at Amalner mandi were reported at 750-800 tons today, significantly lower than the peak of 1,500-1,600 tons. Market participants expect arrivals to remain at current levels over the coming weeks.

Karnataka maize prices also traded steady to weak, with rates at ₹2,325 per quintal for ethanol players and ₹2,400 per quintal for quality supplies. Warehouse buyers continued to purchase actively. Arrivals in Karnataka have fallen to 50-60% of peak levels in several districts, but regions like Chitradurga and Kottur are seeing steady arrivals due to their later crop cycles.

In Punjab, ethanol grain buyers reduced prices by ₹5 per quintal to ₹2,675, supported by ample supplies from Madhya Pradesh and Karnataka. Meanwhile, Chhindwara mandi prices remained steady at ₹2,250-2,300 per quintal, with ex-warehouse rates at ₹2,380-2,420 per quintal, depending on quality.

Given current conditions, maize prices are expected to remain range-bound in the short term. However, a significant price increase is anticipated as supply diminishes substantially in the coming weeks.

(By Commoditiescontrol Bureau; +91 98201 3018)


       
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