Prices of maize, too, rose marginally across key spot market due to a slight pick up in demand from bulk buyers. Any sharp rise in prices were limited due to steady arrivals. Demand is seen firm in the coming weeks, as purchases by bulk buyers will increase, anticipating a tight supply. In Nizamabad, maize arrivals were pegged steady at 1,600 bags (1 bag = 100 kg). In Davangere, too, arrivals were pegged at 1,200 bags, steady from previous day.
On the National Commodity and Derivatives Exchange, the most active May maize contract ended 6 rupees higher at 1,760 rupees per 100 kg.
Corn futures saw 1 to 3 cent gains in most contracts, with May up 2.47% on the week. Support stemmed from strength in wheat, bargain hunting and higher ethanol futures.
India maize spot prices rise on firm buys
The most active May maize contract ended 6 rupees higher at 1,760 rupees per 100 kg.
May 19 CBOT Corn closed at $3.73 1/4, up 3 cents.
Brazil is considering granting an import quota of 750,000 tonnes of U.S. wheat per year without tariffs in exchange for other trade concessions