New Delhi, February 27 (CommoditiesControl): Maize prices maintained a steady to firm stance across major centers, buoyed by improved buying and a reduction in kharif arrivals, contributing to the overall support in prices.
In Gulabbagh, maize prices were reported as steady to slightly firm, ranging between Rs 2320-2380. Poultry buyers from North and Uttar Pradesh are actively sourcing maize from Bihar due to challenges in obtaining good quality maize from other regions.
Most stockists are becoming hesitant to sell maize at the current rates. Prices for ready Bihar warehouse stock are quoted at Rs 2350, while full March prices are at Rs 2425 per quintal.
Poultry buyers from North and UP continue to engage in active purchasing from Bihar, emphasizing the scarcity of good quality maize in other parts of India.
The Poultry Feed Association anticipates maize prices to potentially touch Rs 30 per kg unless additional imports are made. Approximately 60% of the maize produced is consumed by the poultry feed industry, making it the largest consumer of the grain. Of the total production, 210 lakh tons are consumed by poultry feed, 100 lakh tons by the starch industry, and only around 15 to 20 lakh tons for human consumption.
The acreage of the Rabi crop of maize has shown an increase, raising expectations for a better output. However, significant quantities of the new crop are expected to become available in Telangana only towards the end of March, with bulk supplies from Bihar anticipated to commence after mid-April.
Limited new maize supplies are expected in Madhya Pradesh and Maharashtra in the coming weeks, with minimal impact on prices due to the small quantity available. Madhya Pradesh prices traded with a steady but negative bias at Rs 2250-2260 per quintal. Karnataka prices remained steady at Rs 2350 per quintal, while Tamil Nadu prices traded at Rs 2410 per quintal with a one-month payment condition. Rajasthan prices held firm at Rs 2300-2310 per quintal.
Considering the current scenario, maize prices are likely to trade steady to firm in the near term. However, the crops in Bihar and Uttar Pradesh could potentially act as upward resistance to the market.
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