Potential Price Surge After Market Pressure, Supported by Industry Demand
Maize (corn) is no longer just a traditional agricultural crop; it is rapidly transforming into an industry-based commodity. The increasing role of sectors such as ethanol, poultry feed, and cattle feed has consistently strengthened the demand for maize. Among the major crops in Bihar, maize holds a significant position, and currently, the average arrival of maize at the Gulabbagh Purnia grain market remains between 70 to 80 trucks. In terms of prices, at the Gulabbagh Purnia market, normal dust maize is being traded at ₹1800 to ₹1850 per quintal, BD maize at ₹1900 to ₹1950, BD fresh maize at ₹2000 to ₹2070, BD super fresh maize at ₹2100 to ₹2125, and premium quality one-number BD super maize at ₹2150 to ₹2175 per quintal. These prices show a softness of ₹20 to ₹30 per quintal compared to the previous days. According to buyers, the demand from the ethanol industry remains consistently strong, and the poultry farms and feed industry continue to consume quality maize without any significant slowdown. This is the reason why there hasn't been a major price drop in the market, and lower price levels are receiving strong support. In major markets like Chhindwara in Madhya Pradesh, the price of maize ranges between ₹1400 to ₹1840 per quintal, with total arrivals of approximately 38,000 to 40,000 quintals. The increased arrivals in Maharashtra and Madhya Pradesh have caused pressure in the market. On the export front, the maize market is currently in a weak position. Uncertainty regarding exports to Bangladesh, rumors, and cancellations of old contracts have led to a significant decline in export demand. As a result, maize prices have dropped by ₹100 to ₹150 per quintal. Limited purchases by large plants at high prices have also contributed to the market softness. Looking ahead to the new year, market experts suggest that if there are no negative developments, maize prices could gradually improve in January, especially if arrivals decrease and demand from the ethanol and feed sectors continues. A price increase of ₹50 to ₹100 per quintal is possible in the first phase of the new year. If the export situation improves, the prices of high-quality maize could rise by ₹100 to ₹150 per quintal. However, until the export situation is fully clarified, market volatility may continue. Therefore, all traders, farmers, and stockists should make decisions based on market trends and their own requirements.