Ahmedabad, February 29 (Commodities Control): Maize prices across major centers maintained a steady to firm trend as increased buying activities and a decline in kharif arrivals continued to provide support.
The market trends in various regions reflect a positive sentiment, with factors such as weather conditions and crop damage contributing to the price movements.
In Maharashtra region, specifically in Jalgaon and Dhule, maize prices traded slightly firm, ranging between Rs 2350-2400 per quintal. Buyers in most Gujarat locations increased maize prices by Rs 20-30 per quintal on the day. Unfavorable weather conditions over the past few days have resulted in damage to a portion of the standing crop, further supporting market sentiments.
Chhindwara reported maize prices at a season high, trading between Rs 2200-2270 per quintal in mandis and firm at Rs 2300-2310 per quintal ex-warehouse. Local buyers, acknowledging the limited arrivals and anticipating a rise in maize prices, have increased their bids to season-high levels. With current arrivals drying up, the expectation is for maize prices to see further upward movement in the near term.
Gulabbagh witnessed a firm quote for maize prices, with an increase of Rs 20 per quintal, reaching Rs 2400-2460 per quintal. Over the past 12-14 days, prices in Gulabbagh have escalated by Rs 130 per quintal, reaching the highest levels for this season. Despite the higher rates, poultry buyers remain active, driven by the unavailability of good quality supplies at current rates.
In Karnataka, maize prices are holding steady at Rs 2350 per quintal. Tamil Nadu, particularly in Erode, recorded maize prices at Rs 2400-2410 per quintal with a one-month payment condition.
Poultry buyers continue to engage actively in purchasing, emphasizing the scarcity of good quality supplies at current rates. Stockists, who had anticipated a continued decline in prices and sold most of their stocks in the first half of February, now find themselves in a situation where supplies are abundant. This discrepancy suggests a miscalculation in anticipating the market's actual conditions.
Looking ahead, maize prices are expected to maintain a steady to firm trend in the near term, given that no new crop is anticipated before March 15. However, a small new crop is projected to begin in the Lalgola zone of West Bengal around March 15, which could potentially limit the continued rise in prices.
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