Maize prices up by 1.3% last week

Maize prices rose marginally by 1.3 per cent to an average of Rs 10,115 per tonne last week as compared to the previous week, a US Grains Council (USGC) report said today. 

Prices of maize fell in Andhra Pradesh by 0.17 per cent to Rs 9,719 per tonne, Gujarat by 4.16 per cent to Rs 10,139, Rajasthan by 3.2 per cent to Rs 10,539 and in Uttar Pradesh by 2.1 per cent to Rs 10,356 per tonne, the report said.  

The prices moved up in Karnataka by 4.16 per cent to Rs 10,577 per tonne, Maharashtra by 9.62 per cent to Rs 10,661 and in Tamil Nadu by 2.58 per cent to Rs 10,720 per tonne, it added.

Spot prices of maize in key markets were comparable and were reported to be up on higher demand. Price in Nizamabad was up by 0.84 per cent to Rs 11,894 per tonne and in Davangere by 0.98 per cent to Rs 11,310.

However, maize prices in Karimnagar fell by 0.29 per cent to Rs 11,740 per tonne. Arrivals in Bihar have started to trickle in, with the moisture level ranging from 12.5 per cent to 17 per cent, and prices are set accordingly, the report said.  

Since it is start of the season, prices are higher in a range between Rs 11,500 – 12,500 per tonne for the packed commodity, it pointed out.

Purchases have also started for Bangladesh and some transactions were concluded at Rs 12,750 – 12,900 per tonne for delivery at the border, it added.