NCDEX Maize ends lower by 0.29% on slump in demand

Maize prices ended lower by 0.29 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. At the NCDEX, maize futures for July 2013 contract closed at Rs. 1,393 per quintal, down by 0.29 per cent, after opening at Rs. 1,403 against the previous closing price of Rs. 1,397. It touched the intra-day low of Rs. 1,373 Sentiment weakened further as a result of a decline in the demand for the commodity from bio-fuel making industries tracking the weak global markets. USA, China and Brazil are the top three maize producing countries in the world while the prominent exporters of maize are USA, Argentina and Brazil. Chief importers are Japan, EU, Malaysia, Taiwan, Indonesia etc.

Share on Google Plus

About sathish.mohan

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.