Domestic grain market
20-Nov-2024 10:07 AM
Domestic grain market
The domestic grain market has seen notable developments in recent weeks, with maize and millet prices experiencing significant fluctuations. Here’s a breakdown of the key trends:
Maize Prices:
Increase in Prices: Maize prices have risen in key states like Maharashtra, Madhya Pradesh, and Bihar. However, prices have remained stable in Karnataka despite the arrival of new maize for the Kharif season.
Demand Support: The stability in Karnataka's maize prices can be attributed to continued demand, which has prevented significant price changes. As a result, maize prices are expected to stay high in the near future, especially with the demand for maize in ethanol production.
Millet Prices:
Steady Rise: The price of millet has been on a consistent rise, closing at Rs 2600 in Delhi on November 19. This marks a Rs 40 increase from the previous week and Rs 20 higher than Monday's price.
Millet Variants: Specific varieties of millet have also seen price hikes:
Bahjoi millet rose by Rs 80 from last Saturday to November 19.
Khair millet increased by Rs 20, reaching Rs 2400.
Attari millet saw a rise of Rs 10, standing at Rs 2390.
Regional Trends: In Gulbarga, millet prices have remained stable within the range of Rs 2300-2800. In Dahod Mandi, prices increased from Rs 2500-2900 to Rs 2500-3000 on November 19.
Market Overview:
October Decline and November Recovery: In the last week of October, prices were on a decline. However, during the first week of November, prices were stronger, and by mid-November, they have started increasing again.
Outlook:
Maize and Millet Demand: The demand for maize in the ethanol industry and the ongoing need for millet as fodder are expected to provide continued support for their prices. As long as these demands persist, both maize and millet prices are likely to remain firm or continue rising.
Overall, the market for maize and millet is experiencing upward price movement, fueled by demand from industries like ethanol production and fodder, which are likely to keep the momentum going into the near future.