Maize prices rose due to high demand in domestic market

Maize prices rose in Bengaluru because of a supply shortage and high demand from Tamil Nadu and Karnataka. In Bengaluru, Karnataka, the coarse grain was sold at 2,430-2,450 rupees per 100 kg, up 50 rupees from previous day. Adverse weather in growing regions has affected yield, and hence production.

Widespread attack of fall armyworm has also hit the maize crop in Andhra Pradesh, the largest producer. Maize production in Andhra Pradesh in the 2018-19 (Jul-Jun) season is seen declining 28% on year to 1.67 mln ton. Yield is seen at 6,275 kg per ha as against 6,851 kg per ha in 2017-18.

In the international market, China had purchased an unprecedented 77,700 tn of pork from the US is expected to be bearish for corn, as it indicates lesser demand for the coarse grain to use as livestock feed.