Maize Prices Ended With Flat Node

Maize prices ended with flat node tracking weakness in spot demand amid rise in supply. The area under the rabi maize crop across the country was at 1.01 mln ha up 6.4% from a year ago, according to data released by the farm ministry. A year ago, farmers had sown maize across 953,600 ha. The acreage this year is also sharply higher than the normal acreage of 693,900 ha for this period, based on the average of the last five years, the data showed. In India, maize has been sown in around 13.95 lakh hectares as on 6th January’ 17 which is higher than 12.87 lakh hectare covered during corresponding period last year. Total maize crop area could be around 15 lakh hectares for the Rabi season during 2016/17.

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