Maize Report
Despite widespread buying by ethanol and starch mills, the market price of maize has declined by ₹100 to ₹125 per quintal in the last 10 days due to the sale of maize to ethanol companies by the government at ₹2250 per quintal. The price of maize in Ukraine has risen from $215/$217 per tonne to $225/$227 per tonne, making imports more expensive. In the current week, loading activity at Madhya Pradesh's rail points has slowed down, adding to the market pressure. Therefore, it's advisable to buy maize at the reduced prices. The market is expected to rebound by at least ₹100 to ₹150 per quintal in the future. Maize from Madhya Pradesh, which was previously sold at ₹2750 per quintal in Haryana and Punjab, is now priced at ₹2500 per quintal. This has led to an increase in demand, causing the market to pick up again. Considering consumption and production patterns, there is a bullish outlook for maize prices in the future.