India Maize fall on weak demand
High moisture content in the new crop makes it unfit for storage, hitting demand from poultry feed and starch manufacturers At Devanagari in Karnataka, another key market, maize is at sold 1,880 rupees per 100 kg, largely steady from the previous session on weak demand. Arrivals had increased to 10,000 bags from 4,000 bags. Prices of mill-quality wheat were largely unchanged across key spot markets today due to steady demand from flour mills.
In Indore and Kota, the two key markets, arrivals were largely unchanged. Prices in Indore are likely to decline in the coming days as spot prices have risen above the government's sale price of about 2,100 rupees per 100 kg,. Flour millers usually switch to government auctions to source the grain at cheaper rates once supply in the spot markets starts dwindling.
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