Maize Prices Rise by 50 to 60 rupees

Last week, the maize market witnessed mixed trends. In the mandis of Uttar Pradesh, maize prices rose by 50 - 60 per quintal, although total arrivals remained limited due to rainfall. Continuous strong demand from processing and starch factories provided support to the market. During the Shravan month, demand from the poultry sector declined slightly, creating some pressure on prices. However, in South India, growing demand from poultry feed mills and the food industry led to a price rise. In major mandis of Madhya Pradesh, maize prices ranged between 2080 and 2150 per quintal. This year, farmers have shown a greater inclination towards maize instead of soybean due to its lower cultivation cost and higher yield. Farmer organisations in Madhya Pradesh are also promoting maize cultivation as it can better withstand climatic uncertainties and offers traders higher profits. After August 15, demand from the poultry sector is expected to increase, which could push prices up by another 50 per quintal. Additionally, reports suggest prices are rising in several regions due to adverse weather. In Karnataka, continuous heavy rainfall has damaged maize crops, which is also likely to support price gains. If industrial buying continues and arrivals remain low, prices may reach 2350 - 2450 per quintal. At present, the market remains strong, driven by industrial demand.

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