Maharashtra Maize Demand Supports Prices; FCI Auction in Focus

On 26 August, the maize market continued to show a firm trend, supported by active buying from plants in Maharashtra. Demand from the poultry and feed sectors also remained supportive. Expectations around Bangladesh demand and relatively limited arrivals in some regions are providing additional strength to maize prices. Plant buying in Maharashtra remained strong, with prices at major plants largely in the ₹2,630�₹2,850 per quintal range. Several plants increased their buying rates, indicating healthy demand from processors. Buying activity in South India also remained firm, with prices at some locations staying above ₹2,800 per quintal. In the major mandis, Gulabbagh traded at ₹2,390�₹2,510, Skeen Bazaar at ₹2,360�₹2,500, Katihar at ₹2,220�₹2,450 and Sangli at ₹2,625�₹2,800 per quintal. Prices remained firm in markets such as Kudchum and Lonand, although some mandis also witnessed weakness. Gujarat also reported a positive trend at several plants. Some buying centres increased prices by ₹20 to ₹75 per quintal. However, Nepalpur Meter witnessed a decline of ₹85, indicating that the current strength is selective rather than uniform across all locations. The FCI broken rice auction scheduled for 27 August will be an important factor for the maize market. According to the report, around 1.71 lakh MT of broken rice is scheduled for auction at a reserve price of ₹2,100 per quintal. Availability of cheaper broken rice could put some pressure on maize demand, particularly from feed buyers. The key factors supporting maize prices are strong plant buying in Maharashtra, steady poultry and feed demand, potential Bangladesh demand and limited arrivals in some markets. On the negative side, the upcoming FCI auction and weakness in selected mandis could restrict the upside. For the short term, ₹2,400 is an important support level. A sustained move above ₹2,500 could strengthen the market further towards ₹2,650 and subsequently the ₹2,700�₹2,800 zone. Overall, the market sentiment remains firm to selectively bullish. Overall, the maize market outlook remains positive, but fresh buying at higher levels should be approached cautiously. Traders should closely monitor plant demand, mandi arrivals and the outcome of the FCI broken rice auction before taking aggressive positions.

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