New Delhi, February 19 (Commoditiescontrol): Maize prices exhibited a mixed trend across major centers in India, with variations noted in different regions. Trading patterns indicated stability to slight weakness in Maharashtra, Karnataka, Gujarat, and western Madhya Pradesh, while prices traded slightly firmer in North India, Eastern Madhya Pradesh, and Bihar.
The government's decision to supply maize to distillers at Rs 2291 per quintal, covering all procurement costs and agency margins, provided some stability in the market. The current Minimum Support Price (MSP) for maize stands at Rs 2090 per quintal. Distillers will be responsible for covering transportation costs from the mandi to the distiller warehouse.
Today, maize prices remained almost steady to slightly weak, prompting some stockists to book partial profits due to the relatively stable prices in recent times.
In the Karnataka maize market, there is notable activity with a decline in arrivals. However, both buyers and sellers are currently inactive, leading to completely steady prices over the past few weeks.
In Gulabbagh, maize prices saw an increase of Rs 10-15 per quintal, quoting at Rs 2320-2350 per quintal. While prices have risen by Rs 30-40 per quintal from their recent low, they remain down by Rs 70-90 from their peak.
Following profit booking, sellers are showing reluctance to sell at lower rates. A buyer based in Karnal raised the price of Bihar maize to Rs 2600 today, up from Rs 2560 quoted a few days ago. The same buyer increased maize prices by Rs 25 to Rs 2525 for Madhya Pradesh and Rajasthan maize, compared to the earlier quote of Rs 2480.
Chindwara prices traded firm, increasing by Rs 30-40 per quintal at Rs 2310-20 per quintal. Several buyers raised prices by Rs 30-40 per quintal today as they faced challenges in securing supplies at lower rates.
With no new crop supplies expected within the next month, maize prices are anticipated to trade steady to firm in the near term, providing market participants with a clearer outlook for future trading sessions.
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