Around 12 per cent increase has been seen in maize prices in India on the back of demand rise for Indian maize in export market. In the domestic market, maize prices have risen to around Rs 1,500 per quintal from Rs 1,350 last month.
The demand for Indian maize is on spurt in global markets as supply from Brazil has lagged temporarily due to port congestion.
The deficit rainfall has impacted acreage and yield in the current year, which will affect supply.
Prices are likely to remain high, unless Rabi output offsets some of the loss in production in Kharif season to support domestic demand till next year.
According to the first advance estimates for the running fiscal (2012-13), Kharif maize area this season stood at 73.68 lakh hectares compared to 73.88 lakh hectares last year.
Kharif maize production is estimated at 14.8 million tonnes, lower by 8 per cent from the previous year.
Maize is sown in both Kharif and Rabi seasons; with the Kharif season output comprising 75 per cent of the total production.
Source: Indiamart
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