Rising Maize Arrivals and Slight Demand Support; Prices Fall in Bihar, Stable in Delhi and Jaipur
Across the country, maize markets experienced mild pressure on Wednesday due to fresh arrivals. In Bihar, prices fell by ₹60–70, but Gulab Bagh mandi saw a slight increase of ₹10, with prices reaching ₹1900 per quintal. In other locations, prices were: Semapur ₹1860, Kursela ₹1850, Rack Point ₹1850, Delhi ₹2100, Jaipur ₹2050, Chhindwara ₹1850, Tirupati Starch Plant Indore ₹1900, Sangli ₹2050, and Rajkot ₹1825 per quintal. At Gulab Bagh, arrivals increased to 8,000 tons, strengthening the supply side. In Rudrapur, ethanol companies purchased maize at ₹1840, indicating that industrial demand is gradually providing support. In Umerga, SHK Kemtech quality maize traded at ₹1930, showing a slight firmness of +₹10. In Uttar Pradesh, prices in Lucknow remained around ₹2050 per quintal, but a weakness of about ₹25 was observed. Markets in Madhya Pradesh and Karnataka were largely stable, while feed belt areas in Maharashtra such as Baramati, Sangamner, and Supa saw declines of ₹5–20. Hoshiarpur also experienced a drop of ₹50. In Khargone, prices held steady around ₹1750 per quintal with 500–600 vehicle arrivals. Looking at demand, the poultry and feed sectors remain slightly weak, which is keeping overall market pressure intact. However, purchases by the ethanol sector are providing some relief. Globally, the market shows a different picture. In Brazil, reduced fertilizer usage and increased ethanol blending may boost consumption. In the U.S., concerns over fertilizer availability could impact upcoming crops. Weak exports from South Africa may increase stock levels, exerting international pressure. Weather is also a key factor: rainfall in the U.S. Midwest could support crops, but an El Niño situation could reverse market trends. Overall, short-term pressure is present, while long-term trends show mild bullish signals.