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Indian Maize Update

posted Jan 12, 2011, 9:53 AM by NAVYUG Info
Indian maize prices across most of the markets traded positive on the back of receding arrivals and persistent offtake from end users, while continued exports added fuel for price gains. Nevertheless, fast pick up in Rabi sowing across major states coupled with inferior quality influx at few markets capped aggressive price gains during the last couple of weeks.

Moving ahead, arrivals across AP are expected to fall much in line with seasonality and same might support Karnataka material to flow to Andhra Pradesh and is expected to keep market on upbeat note at near term. At export font, giant firms viz, Cargill India, LD Commodities and AWB were active across Shimoga, Davangere and Sangli. Trade source revealed that export demand is expected to remain robust. 

Collating above scenario, Indian Maize prices look to trade positive owing to decrement in arrivals at AP and brisk export and domestic demand. However, fast pick up in Rabi sowing shall cap aggressive price gains in the coming 4-8 weeks time frame.