Maize Market Faces Slowdown

Despite continuous buying from ethanol and starch mills, the maize market has seen a drop in demand following the government's sale of maize to ethanol companies at a price of ₹2250 per quintal. As a result, prices have fallen by ₹50-60 per quintal in the last two days. In Ukraine, maize prices have increased from $235-237 per ton to $245-247 per ton, making imports more expensive. Additionally, loading at rail points in Madhya Pradesh has slowed down this week, which has put further pressure on the market. However, purchasing maize at the current lower prices could prove beneficial, as prices are expected to rise by at least ₹100-150 in the near future. The price of maize, which was previously ₹2775 per quintal in MP, Haryana, and Punjab, has now decreased to ₹2700 per quintal. With demand picking up at these prices, the market has shown signs of recovery. Considering consumption and production trends, there is a strong possibility of prices increasing in the future.

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