Mumbai, March 13 (Commoditiescontrol): Maize prices across India have softened slightly as buyers anticipate a surge in new crop arrivals. Stockists are liquidating existing inventory, contributing to an easing of prices.
Early maize harvests in Telangana and Andhra Pradesh have pressured prices in Southern India. Meanwhile, buyers in Northern India, Uttar Pradesh, and Bihar are hesitant to purchase at current rates, expecting lower prices with the upcoming Bihar crop.
Pune and Gujarat maize prices have both declined by INR 10 per quintal, currently trading at INR 2480. Despite active buying from Gujarat, Pune, and Madhya Pradesh, stockist liquidation is keeping prices in check.
Maize prices are likely to remain stable or rise marginally in the short term, but substantial increases are unlikely. Robust arrivals are expected in North Maharashtra mandis from April onwards.
Bihar maize prices held steady at INR 2400-2425 per quintal as stockists offload holdings and buyers await the new harvest. Karnataka prices were also stable but with a downward bias at INR 2330 per quintal, reflecting early arrivals from Telangana and Andhra Pradesh.
Barring adverse weather conditions, maize prices are forecast to remain steady or decline slightly in the near future.
(By Commoditiescontrol Bureau: +91 9820130172)
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