Maize prices ended lower by 0.36 per cent on
Wednesday 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 September 2015 contract closed at Rs. 1,378
per quintal, down by 0.36 per cent, after opening at Rs. 1,383 against
the previous closing price of Rs. 1,383. It touched the intra-day low of
Rs. 1,378.
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.
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