Maize Report
Corn production in Uttar Pradesh and Bihar has been robust, but an increase in consumption by ethanol companies—by 27-28%—has led to a market shortage. In Bihar, corn warehouses are only 68% full as the season concludes. Meanwhile, continuous corn arrivals from Madhya Pradesh are being sold at Rs 2625-2650 in Haryana and Punjab, though these have a moisture content of 13-14%. This limits any potential price increase, and Bihar's prices are expected to stabilize at current levels. In South, Central, and Western India, maize prices are steady to firm due to active domestic buying and delayed kharif arrivals from recent rains, with a rise of Rs 10-20 per quintal. However, high moisture content in much of the arriving maize is deterring purchases by processors and stockists, while demand for dry maize remains unmet. Additionally, heavy rains have caused significant crop damage in Karnataka, Maharashtra, and Madhya Pradesh, with over 40% of the maize crop in Karnataka's Davangere district at risk. Similar threats are reported in the Seoni, Jabalpur, and Chhindwara areas of Madhya Pradesh. In summary, while medium-quality maize prices may experience pressure if arrivals increase, good-quality maize prices are likely to remain stable in the near to medium term.