High supply to keep India maize prices in bear grip 2017-18.

Domestic maize prices, already below the minimum support price, will likely remain under pressure through the 2017-18 (Oct-Sep) marketing season because of high carry forward stocks and the fast approaching rabi harvest. This is the first time in five years that prices have fallen so much during the lean season although no recovery in prices is seen for another year, they are also unlikely to fall further as this is the bottom level.