IGI Logo

Overview

MAIZE TO TRADE FIRM IN COMING DAYS

Maize domestic prices traded flat over the previous day in Chhindwara & Gulabbagh, price outlook remains strong for coming days.

Key Factors

* 9% higher Maize acreage: As of 7 th Jan-22, rabi maize sowing is completed on 15.9 Lakh Ha, up 9% y-o-y. Sowing is completed on 88% of the normal area.

* Thin Arrivals: Maize arrivals declined by 15% over the previous week at 1.48 Lakh MT.

* Maize prices in Davengere trading at Rs. 1820 – 1830 per quintal (ex-warehouse). Meanwhile, in Chhindwara maize prices traded at Rs. 1740 – 1750 per quintal (ex-warehouse). Maize prices at the rake point of Chhindwara is Rs. 1750 per quintal.

* Rake Movement: Total maize movement by rake during Oct-21 to 10th Jan-22 was 13.3 Lakh MT. Total maize movement to sea ports and cross border by rake was 4.9 Lakh MT. Meanwhile, maize movement in the first 10 days of Jan-22 by rake was 1.44 Lakh MT, up by 26000 MT from the previous week. Maize movement to sea ports and land border by rake during the above-mentioned period was 63000 MT, up by 7000 MT from the previous week.

* Exports: Maize exports during Oct to Dec-21 was 7.3 Lakh MT, 18% lower y-o-y. One vessel of maize containing 26000 MT loading in Vizag port and another vessel of 28800 MT would load from Chennai port in Jan-22.

* Maize stock position at NCCL approved warehouse as on 9th Jan 2022 was 2422 MT.

Demand and Supply

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.origoindia.com/

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer