Maize Report

In Madhya Pradesh, the maize crop is arriving rapidly, and ethanol companies are purchasing maize at all price levels. The pressure from the crop in Madhya Pradesh and Rajasthan will persist for the next two months, causing the old stock to be sold off quickly. This has led to a drop in maize prices in the mandis (marketplaces) of Madhya Pradesh and Rajasthan to 2350/2400 rupees per quintal. There is no further room for prices to decrease because ethanol and starch companies are buying at all prices. Large companies are also beginning to stockpile maize. As a result, there is no expectation of a downturn. Maize from Madhya Pradesh is being sold at 2600/2650 rupees per quintal in Haryana and Punjab, and ethanol companies are absorbing the supply.

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