New Delhi, March 01 (Commoditiescontrol): Maize prices exhibited a rangebound trading pattern today, with limited buyer-seller activity contributing to the subdued market conditions. The situation varied across different regions, influencing the pricing dynamics in major maize markets.
In Maharashtra, maize prices in the Jalgaon and Dhule regions held steady at INR 2350-2400 per quintal. Meanwhile, Chhindwara's mandi prices remained neutral, trading at INR 2200-2270 per quintal, while ex-warehouse prices maintained stability at INR 2300-2310 per quintal. The current scenario indicates a decline in arrivals, prompting expectations of a potential increase in maize prices in the near term.
Gulabbagh witnessed steady maize prices, quoted at INR 2400-2460 per quintal. Notably, there has been a notable increase of INR 130 per quintal in the last 12-14 days in Gulabbagh, pushing maize prices to their highest levels this season. Despite the elevated rates, poultry buyers continue to actively participate in the market, driven by the limited availability of good-quality supplies at current rates.
Stockists, anticipating a continued decline in prices, had largely liquidated their stocks during the first half of February. However, the current situation reveals a surplus in supplies, indicating a miscalculation on the part of both buyers and stockists regarding the expected volume of supplies.
In Karnataka, maize prices remained steady at INR 2350 per quintal, while in Tamil Nadu's Erode region, prices were traded at INR 2400-2410 per quintal, subject to a one-month payment condition.
Looking ahead, maize prices are anticipated to trade within a steady to firm range in the near term, given the absence of new crops until at least March 15. However, a small influx of new crops is expected to commence in the Lalgola zone of West Bengal around mid-March, potentially capping the ongoing upward trend in prices.
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