New Delhi, February 9 (CommoditiesControl): Maize prices remained rangebound in major centers, with current supplies adequately meeting present demand. The balancing act between declining kharif arrivals and a relatively good stock position with buyers influenced the price trends in key regions.
In Chhindwara, kharif arrivals stood at approximately 9000 quintals, supporting prices at Rs 2280 per quintal. The market exhibited stability as regular demand from ethanol buyers persisted, despite a slowdown in arrivals. However, a few bulk buyers in Madhya Pradesh refrained from active purchasing, having already secured substantial supplies recently. Overall, the maize market is anticipated to remain steady to firm in the near term.
In Maharashtra, maize prices traded almost steady at Rs 2320 per quintal, with consistent demand observed from poultries and ethanol buyers. However, starch producers displayed a subdued buying pattern, possibly influenced by previous import commitments.
Tamil Nadu witnessed pressure on maize prices due to new arrivals, but active stocking in the region uplifted prices. A prominent poultry buyer in Papampatti initially reduced prices from Rs 2400 to Rs 2190 after the new crop influx. However, within the last week, the same buyer increased prices by Rs 180 to Rs 2370 today, indicating market fluctuations.
Bihar witnessed steady maize prices at Rs 2350 per quintal, with stockists liquidating stocks affecting the price dynamic. Despite this, most bulk stockists continue to hold their inventories.
Across major centers in Punjab, Haryana, and Uttarakhand, maize prices held steady, with steady purchase rates from buyers. Some buyers were less active in the market, having already procured substantial quantities recently. Prices in Punjab and Haryana ranged between Rs 2550-2575 per quintal.
In Seetapur, an ethanol-producing buyer temporarily ceased purchases, having already secured bulk quantities in recent weeks. Other ethanol-producing buyers remained active, operating in the Rs 2430-2450 range.
Looking ahead, maize prices are anticipated to remain almost steady in the coming week, with a potential gradual increase after 7-9 days as the new rabi crop is still a significant distance away.
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