Maize prices down on weak demand Maize prices fell across key spot markets as feed manufacturers trimmed their purchases at higher price levels. In key spot markets of Bihar, prices eased due to rise in arrivals. In Purnea, arrivals were pegged 15,000-20,000 bags, compared with 13,000-15,000 bags on Saturday. Prices are likely to drop further in the near term as arrivals of the new crop will start in full swing within a fortnight.
However, likely robust demand from bulk consumers, amid uncertainty over import of maize, may cushion the fall. Earlier this month, the government allowed import of 100,000 tn feed-grade maize at 15% duty under the tariff-rate quota in order to ease supply shortage in the country.
Telangana pegs 2018-19 maize crop 2.1 mln tn vs 2.7 mln tn yr ago
Maize output in the Telangana state is seen falling 23% on year to 2.08 mln tn in 2018-19 (Jul-Jun) because of lower acreage and productivity. Widespread attack of fall armyworm has also hit maize crop in the state, as per state agri officials.