Agriculture Market News : According to Analysis, Maize prices to hover around MSP

Maize is one of the most widely distributed crops of the world. It is known as queen of cereals because it has the highest genetic yield potential among the cereals. It is cultivated in diverse agro climatic conditions of tropics, sub-tropics and temperate regions.

Area under maize in the world accounts for 178.61 m ha with a production of 1007.47 million mt during 2014-15. Maize ranks third in production in India. It contributes to 2.35% of world production with almost 5.21% share in world harvested area in 2014-15.

It contributes to 2.35% of world production with almost 5.21% share in world harvested area in 2014-15.

Business Management, UAS Bangalore collected the modal prices of maize that prevailed in Davanagere market during the last eleven years and econometric analysis was carried out to predict the prices of maize for the harvesting months. Also an opinion survey of maize traders was conducted.

Based on the analysis and Market survey, it is forecasted that maize would fetch a modal price of around Rs.1300-1350 per quintal during October to November, 1350-1400 Rs/qtl in December and 1400-1500 Rs/qtl in January.

Keeping in view of the fact that 2014-15 crop season stocks position is unchanged compared to previous year, the prices are likely to hover around MSP during October to November and a marginal increase is expected during December to January for superior quality of maize.

Source: http://www.uasbangalore.edu.in/