Corn prices in the local market have strengthened, rising from PKR 3,200/maund to PKR 3,400/maund, even as the new crop harvest is underway. The upward trend is primarily due to active buying from feed mills and slower-than-expected harvesting progress affected by cooler weather conditions.
Currently, the newly harvested corn entering the market contains very high moisture levels due to nighttime dew formation and cooler weather, making drying and threshing difficult. Night temperatures are dropping to around 12°C, which prevents the crop from drying efficiently in open fields. Weather forecasts indicate that temperatures may fall further to around 8°C in the coming week, which may prolong the drying process. Additionally, fog formation expected from November 26 could further disrupt field operations and the flow of corn to local markets. These factors combined have resulted in limited arrivals, providing short-term support to prices despite the ongoing harvest.
From a production standpoint, this season appears favorable for farmers. The weather has remained largely favorable throughout the growing period, and crop conditions are described as healthy with well-filled cobs. Early field reports suggest a slight improvement in yields compared to last year.
However, price pressure may emerge once arrivals increase significantly. If the onset of fog and cold weather delays harvesting, the market may remain firm in the near term. Conversely, if arrivals accelerate by late November or early December, increased supply could ease prices as the bulk of the crop enters the market.
