Maize Market Report

The maize market has been active since September, according to our report, and our previous analysis was also accurate. From South to Central India, the maize market is showing a strong tone, and on Monday, maize prices surged by ₹50 to ₹100. The biggest relief came from the Karnataka government, which, after continued protests from farmers, increased the MSP purchase limit from 20 quintals to 50 quintals. Talking about the market, maize prices were ₹2075 in Gulab Bagh Mandi, ₹2150 in Sangli, ₹1700 in Ashoknagar, ₹1725 in Chhindwara, and ₹1850 at the Tirupati Starch Plant per quintal. In Ramganj, prices suddenly rose by ₹100, reaching ₹1750 due to emerging export demand from Bangladesh for up to 1 lakh tons. The regular demand from Vietnam and Sri Lanka also supported this price surge. In Khargone, average maize prices were ₹1500, with the best dry quality reaching ₹1850. Despite an arrival of nearly 500 trucks, prices remained stable due to good local and export demand. In Amalner, prices strengthened by ₹20, reaching ₹1800, with arrivals increasing to 1500 tons. It is estimated that farmers are still holding around 50-60% of their stock, which will keep arrivals steady for the next month. Amalner is offering higher prices than surrounding districts because it has active buyers for exports and South India-bound goods. Exporters from Mumbai are purchasing at ₹2100, while some buyers in Tamil Nadu have lowered their purchase price by ₹50. Overall, the market is seeing good demand, and with increasing MSP purchases and exports, prices are being supported. However, considering the limited mood of exporters for further price increases, there is little expectation of a significant rise in maize prices in the near future. This increase in demand is driven by lower prices, and if prices rise too much, a decrease in exports is likely. Additionally, the situation regarding GM maize imports from the US is still unclear. It is advised to trade carefully and with discretion.

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