International Maize Market

07-Feb-2025 09:03 AM

International Maize Market
★ During the week of January 30, maize export bookings from the USA reached 1.477 million tons, with Mexico purchasing 250,000 tons, Japan 214,000 tons, and South Korea 210,000 tons.
★ In Argentina, only 25% of the maize crop is in excellent condition, with the crop rating being poor due to a lack of rainfall.
~~~~~~~~~~
Domestic Maize Market
★ There was a slight impact on maize prices.
★ After the announcement by the FCI (Food Corporation of India) to produce ethanol from rice, maize prices stabilized and the market became steady.
★ FCI announced the sale of 2.4 million tons of rice to distilleries at a rate of 2,250 rupees per quintal.
★ Initially, the increasing demand for ethanol pushed maize prices to record levels. However, with more farmers now turning to maize, availability is expected to rise in the future.
★ The maize market has already reached its peak, and the expectation for price increases is low.
★ The allowance for ethanol production from other options like rice and sugar is impacting the demand for maize.