Commodity Outlook – Maize

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

Sowing period: October
Harvesting period: March
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:

  • According to Ministry of Agriculture, Maize has been sown in around 7.88 lakh hectares (lh) as on December 04, 2019 which was higher than 8.71 lh covered during corresponding period last year and down by 9.53 percent.
  • According to Agriwatch website in Kurnool and Khammam districts of A.P, Maize arrivals are containing 6.5 – 7 percent of black fungus.

Table 1: Rabi sowing coverage of Maize in Lakh hectares (lh)

Source: Department of Agriculture cooperation & Farmers Welfare

Chart 1: Price movement of Maize Kharif (Rs per Quintal) – Sangli, Maharashtra – Spot vs NCDEX Futures December

Prices of Maize Khraif are currently in a Contango where the Futures prices are higher than the expected physical market Spot prices.

Chart 2: Price movement of Maize Rabi (Rs per Quintal) – Gulabbagh, Bihar – Spot vs NCDEX Futures December

Prices of the Futures and physical market Spot prices of Maize Rabi are currently in tandem with each other.

Market commentary: Price outlook

  • Prices of Maize in the physical markets are likely to trade steady to range bound in the immediate / short term.
  • Overall physical market prices of Maize in major markets would trade from current levels of Rs. 2,100 to 2,300 per quintal to below 2,300 levels amid limited demand and expected new crop arrival.

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