Maize prices rose across major spot markets as demand from the poultry-feed sector remained firm amid a decline in arrivals. Arrivals fell in markets of Telangana as most farmers are holding back the stocks to sell to the government at minimum support price.
The Telangana government has decided to procure the entire 1.5 mln tn maize produced in the rabi season to ensure farmers get adequate protection at a time when many mandis are shut due to the lockdown to contain the spread of COVID-19. The state government will procure the crop at the minimum support price of 1,760 rupees per 100 kg, sharply higher than the spot price. In other states, arrivals fell due to several travel restrictions amid the lockdown.