The Hindu Business Line : Maize gains on tight supply

Maize gained 2.37 per cent to Rs 798 per quintal on renewed export enquiries from Australia, Bangladesh and the Philippines. “Maize supply in the physical market was tight as it was not a major arrival season,” said a trader.

Kapas rose by one per cent to Rs 497 per 20 kg as millers hedged their position on the back of good demand from the export markets.

Guarseed gained 0.94 per cent to Rs 1,831 per quintal as the arrivals dropped to 10,000 bags from 70,000 bags last month and there was strong demand from the European Union markets.

Jeera up

Short covering helped jeera to gain 0.89 per cent to Rs 9,037 per quintal after the recent drastic fall. Rapeseed-Mustard seed futures were up 0.66 per cent to Rs 558 per 20 kg on lower production estimate and strong demand.

After a sharp rally last few sessions, barley contract lost 1.64 per cent to Rs 993 per quintal. Turmeric and chana were down 1.2 per cent at Rs 3,125 per quintal and 1.18 per cent at Rs 2,606 per quintal on profit booking. Soyabean closed flat at Rs 2,183 per quintal.

On MCX, mentha oil gained 0.58 per cent to Rs 453 per kg, while potato lsot 0.93 per cent to Rs 627 per quintal.

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Maize gains on tight supply