Maize Market Update: Mild Fluctuations, Steady Demand
Yesterday, mixed trends were observed in the prices of maize across markets and plants nationwide. The market remained largely dependent on quality, moisture, and demand, which led to slight strengthening in some areas while pressure persisted in key centers. In Gujarat, Rajkot saw a marginal increase of ₹50, while processing plants like Rocket Viramgam saw a rise of ₹10. However, slight declines were recorded in Sayaji Kathwada and Grainspan Ahmedabad. In Madhya Pradesh, prices remained stable at centers like Bina, Ganjbasoda, and Jobat due to normal arrivals. However, in Chhindwara, there was an increase of ₹20 for better-quality (A and A+) maize, while lower quality saw some softness. Additionally, Indore's local market saw a ₹25 decline, while slight strengthening was observed in ethanol/alcohol plants in places like Harda and Ghatabillod. In Maharashtra, the markets remained relatively strong, with Nasik showing a slight rise, and Jalna and Sangli recording increases between ₹25 and ₹50. Meanwhile, prices in Sanstar Shirpur and Ambuja Chalisgaon remained stable to slightly stronger. In Bihar's markets, increased arrivals and weak buying pressure led to declines, with prices falling by ₹35 in Muzaffarpur and approximately ₹100 in Gulabbagh/Purnia. In contrast, the Rajasthan market remained strong, with Bundi seeing a ₹100 increase, and Ramganj and Palsana showing slight gains. In Uttar Pradesh, there was an improvement in the demand for value-added products and plants, with Lakhnow dalia rising by ₹100 to ₹2700, and maize in Barabanki increasing by ₹25 to ₹2050. Overall, the maize market seems to be in a period of stagnation. This suggests that there is little chance of a sharp price drop or significant surge in the near future. The domestic demand for good-quality maize remains steady, and if production capacity increases, maize consumption for ethanol production may also rise. Additionally, export demand remains cautious. All these factors indicate that instead of a sharp one-sided price surge, the market will likely remain stable or show a slight strengthening trend.