Mumbai, March 14 (Commoditiescontrol): Maize prices across major centers exhibited stability, with a slight weakening trend, as buyers adopted a cautious approach ahead of the new crop arrival. Stockists liquidating their stocks contributed to a relatively balanced supply situation.
The commencement of small new maize arrivals in Telangana and Andhra Pradesh exerted pressure on sentiments in Southern India. Conversely, buyers in Northern regions, including Uttar Pradesh and Bihar, remained hesitant to purchase at higher rates in anticipation of the new Bihar crop.
In Pune, maize prices held steady at INR 2480 per quintal, mirroring similar rates in Gujarat. Buyers from Gujarat, Pune, and Madhya Pradesh remained relatively active in purchasing maize, although stockists' actions indicated their lack of anticipation for a significant price surge.
With a few more weeks remaining for bulk new arrivals, maize prices are expected to trade steady to slightly upward. However, a substantial increase in prices appears unlikely as good arrivals are anticipated to inundate North Maharashtra mandis starting from April.
Bihar maize prices exhibited slight steadiness at INR 2400-2425 per quintal, with stockists liquidating their stocks while buyers exercised caution amid the prospect of the new crop.
Meanwhile, Karnataka prices traded with a steady but negative bias at INR 2330 per quintal, influenced by small new arrivals from Telangana and Andhra Pradesh. Buyers in this region remained relatively inactive, anticipating a pickup in supplies from the new crop in the coming weeks.
Barring any weather disturbances, maize prices are forecasted to trade steadily to weakly in the near term.
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