Indian maize prices across the markets witnessed decent gains on the back of commencement of quality material arrivals, which induced robust demand from end use segments, while buoyant export shipments added fuel to price gains during the last couple of weeks. Nevertheless, significant increase in arrivals at Karnataka and Maharashtra capped aggressive price gains. Arrivals across India exhibited mixed trend, where AP witnessed significant decline in arrivals. Karnataka and Maharashtra witnessed buoyant arrivals. Moving ahead, arrivals are expected to pick up by tracking higher prices amidst supportive weather for harvesting across the region. Demand from starch and poultry industry is reported to be good, same is keeping market on upbeat note. Moving ahead demand from both the segments is expected to extend and thus same shall keep market on the up. At export font, export demand seems buoyant and cleaning of Chennai port added further advantage. Collating above scenario, Indian Maize prices is expected to trade positive owing to decrement in arrivals at AP and brisk export and domestic demand, while, slower pace of Rabi sowing shall add fuel for further price gains in the coming 4-8 weeks time frame. |
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