market-updates
Yellow Maize FOB Stabilises After February Volatility
Feed-grade maize prices at Mundra have returned to the India’s basmati rice exports hit a record ₹6,800 crore in Q1 2026, driven by surging demand from UAE, Saudi Arabia, and the United Kingdom.40–252/MT range after a period of volatility driven by South American crop updates.
March 5, 2026
3 min read
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RNG Trade Intelligence
Market Research Desk · Rajkot
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Feed-grade yellow maize FOB prices at Mundra have stabilised in the $240–252/MT band after several weeks of February volatility. The pullback follows clearer crop signals from Brazil and Argentina, both of which have confirmed their second-crop (safrinha) plantings are on schedule.
What drove the February swing
Prices spiked from $245/MT to $268/MT in mid-February on early reports of dry conditions in Mato Grosso, before retracing once rainfall normalised. Indian export bookings followed the spot move, with Bangladesh, Vietnam and the Philippines pausing forward purchases until the picture cleared.
Current outlook
Indian feed-grade maize remains competitive against US-Gulf and Black Sea origins for South Asian and Southeast Asian buyers. Aflatoxin-compliant lots (B1 less than 20 ppb) continue to attract a $6–9/MT premium. Through Q2 we expect the $240–255/MT range to hold barring further weather-driven shocks.
- Q1 2026 basmati exports up 18% YoY at ₹6,800 crore.
- GCC + UK together = 62% of value share.
- FOB Mundra prices up $40–55/MT YoY across all grades.
- Forward-booking volumes for Q3 2026 are 35% ahead of last year.
| Grade | FOB Mundra ($/MT) | YoY Change |
|---|
| 1121 Basmati (Steam) | $1,180 | +5.2% |
| 1121 Basmati (Raw) | $1,080 | +4.8% |
| 1509 Basmati (Steam) | $960 | +3.1% |
Forward-booking volumes for Q3 2026 are running 35% ahead of last year — suggesting sustained import demand through the new-crop harvest window.
Sourcing feed-grade yellow maize at locked rates?
RNG Agro Exports supplies APEDA-registered yellow maize with full mycotoxin and aflatoxin testing, container-direct from Mundra and Kandla. Get FOB pricing within 24 hours.
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Yellow Maize, Feed Grade, FOB, Mundra
| 1121 Steam | $1,180 | up |
| 1121 Raw | $1,080 | up |
| Cumin (ASTA) | $3,200 | down |
| Yellow Maize | $248 | up |
| Apr 30 | APEDA Annual Renewal |
| May 15 | EU MRL Update — Spices & Millets |
| Jun 01 | New Crop Basmati — Pricing Season |
| Jun 10 | GCC Customs Update — Dubai Portal |
| Trade & Export | India-UAE CEPA: Agro Exporters Gain Zero-Duty Access on 97% of Tariff Lines | # |
| Market Updates | Cumin Seeds: Global Shortage Pushes FOB Prices to a 3-Year High | # |
| Regulatory | EU MRL Updates 2026: New Pesticide Residue Limits | # |
