Strong Demand Pushes Corn Prices Up
Indian corn prices have surged recently, climbing by USD 0,02 per kg. Depending on quality, prices now range between USD 0,22-0,28 per kg, with premium varieties commanding even higher rates.
Robust demand from ethanol plants and the poultry industry has kept the corn market active. Medium-quality corn, previously priced at USD 0,22 per kg, now trades between USD 0,24-0,26 per kg, reflecting the market’s positive trajectory.
Harvest Update: Monsoon and Winter Crops Shine
A bumper monsoon crop in Maharashtra has provided strong earnings for farmers. Additionally, winter corn sowing has expanded, with new crops expected to hit markets by February-March. The increased acreage in Maharashtra, Madhya Pradesh, Karnataka, and Uttar Pradesh hints at a promising harvest, while Bihar’s high-quality corn will reach markets in March.
Price Fluctuations Expected in Coming Months
While demand remains steady, short-term fluctuations of USD 0,01-0,02 per kg are anticipated. However, major price drops are unlikely as consistent demand from ethanol plants and other sectors underpins the market. A slight dip in prices could occur once fresh corn enters the market.
Ethanol plants continue to rely heavily on corn, with ethanol priced at USD 0,30-0,31 per litre. Any adjustments in government ethanol policies could create immediate ripples in the corn market.
Regional Highlights: Corn Prices Across India
In Mumbai’s Vashi APMC, Rajasthan’s machine-cleaned corn sells for USD 0,33-0,34 per kg. Small-grain corn, often used in food, commands higher rates, ranging from USD 0,38-0,42 per kg. Beer plants and other factories purchase corn at USD 0,30 per kg, while starch mills maintain steady orders.
Conclusion
The Indian corn market is thriving, driven by strong demand from ethanol production and poultry feed industries. Prices are expected to remain stable, with short-term fluctuations likely as fresh crops arrive in February-March. Market players should stay alert to policy changes and harvest trends to adapt to the evolving landscape.
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