Commodity Outlook – Maize

Sowing period: June to July
Harvesting period: December
Crop season: Kharif

Sowing period: October to December
Harvesting period: April to June
Crop season: Rabi

Key growing locations for Maize Kharif and Maize Rabi: 

  1. Karnataka – Haveri, Shimoga, Davangere, Hassan, Chitradurga
  2. Andhra Pradesh – Kurnool, West Godavari
  3. Maharashtra – Nashik, Sangli, Jalgaon, Aurangabad, Buldhana, Jalana
  4. Madhya Pradesh – Chhindwara, Betul, Dhar, Khargone, Burhanpur, Badwani, Dindori
  5. Uttar Pradesh – Hardoi, Bahraich, Etah, Gonda, Kanpur, Farukhabad
  6. Bihar – Gulabbagh

Production trend and Stock position:

  • As per the Ministry of Agriculture third advance estimate released on May 25, 2021, Maize (Kharif) production was 20.95 million metric tonnes (MMT) compared to the corresponding year which was 19.43 MMT, up by 7.82 percent whereas for Maize (Rabi) production was 9.29 million metric tonnes(MMT) compared to the corresponding year which was 9.34 MMT, down by 0.54 percent
  • According to Directorate General of Commercial Intelligence and Statistics (DGCIS) India’s Exports of Maize in 2020-21 (April – February) stood at 25.94 lakh metric tonne (LMT) and valued at ₹ 4,147.25 crores whereas India’s Import of Maize for the same period stood at 23,694.04 MT valued at ₹ 76.90 crores
  • United States Department of agriculture (USDA) released their report on world agricultural production for June 2021 estimates

Monsoon Update

For the country as a whole, cumulative rainfall during this year’s monsoon season till June 16, 2021 is above Long Period Average (LPA) by 33 percent. Details of the rainfall distribution over the four broad geographical regions of India are given below:

Market commentary: Price outlook

  • The Government had increased the Minimum Support Price (MSP) of Maize by 1.08 percent to ₹ 1,870 per quintal for marketing year (MY) 2021-22 compared to ₹ 1,850 in 2020-20
  • Prices of Maize in the physical markets have been trading steady to range-bound and may trade in a slightly upward trend in the immediate / short term due to constant demand from domestic millers and cattle feed makers which would support the market at lower levels
  • Currently, overall spot prices of Maize have been trading below MSP due to the recent rains in Bihar which has impacted the quality of new arrivals as it contains a high percentage of moisture content which would weigh on market sentiments

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