Around 5 per cent of the standing maize crop in Bihar, India’s fourth largest producer, has been destroyed by a pre-monsoon storm. The crop was also reported to have caught fungus, which may potentially cause more damage.
Experts are yet to assess the magnitude of the total damage as intermittent rainfall continues. But, they believe nearly 60 per cent of the crop in the state has already been processed and is suitable for marketing. Fear of heavier damage to the remaining 40 per cent crop in the state looms large. Maize is sown and harvested in both the summer and winter seasons. In Bihar, harvesting is coming to an end while in south and west India, sowing is all set to start with the onset of monsoon rains.
The impact of the crop damage has already started showing on the prices in the spot market. Maize prices of seed industrial graze quality have already moved up Rs 20-40 a quintal in the last couple of days to trade currently at Rs 1,174.75 a quintal in Nizamabad. Similar price appreciation was witnessed in Bihar, where good quality maize was quoted at Rs 1,070 a quintal.
In the Nizamambad mandi, farmers and stockists have started releasing last year’s crop gradually in anticipation of a bumper crop. Since seasonal rainfall has hit India over a week ahead of schedule, farmers and traders anticipate a favourable monsoon season this year.