Maize Market Stabilizes as Export Demand Supports Prices
The maize market is showing signs of stabilization after hitting recent lows. Export demand has improved following the elections in Bangladesh, giving a boost to domestic prices. Buyers are more active compared to earlier, while sellers remain cautious. On Monday, maize prices at Gulabbag Mandi reached ₹1,900 per quintal, up ₹50 from the previous level. Prices in other key markets were: Delhi ₹2,120, Chhindwara ₹1,600, Tirupati Starch Plant in Indore ₹1,700, and Sangli ₹1,850 per quintal. At Hili Border, maize is being procured at ₹2,000 per quintal. Supplies are being sent to Bangladesh via rail and trucks. Concerns remain over production due to limited Kharif sowing and the potential impact of El Niño. Globally, the US estimates maize acreage for 2026 at 94 million acres, down from 98.8 million acres in 2025. Domestically, Rabi maize sowing in Maharashtra is slightly lower than last year, reducing the likelihood of a major price drop for now. However, in states like Bihar and West Bengal, arrivals may increase after mid-March, putting mild pressure on prices. There are also concerns regarding potential DDGS imports from the US, which could impact maize demand. India currently produces around 3 million tonnes of DDGS, while total feed consumption is about 500 million tonnes, with maize accounting for roughly 200 million tonnes. Overall, experts say that while current low prices and export demand are supporting the market, upcoming arrivals and DDGS imports could exert pressure on prices in the near