New Delhi: Maize prices are expected to recover soon and are likely to cross Rs 1,000 a quintal level within a month on supply concern, traders said. Maize prices are falling at both spot and futures markets due to the ban on the commodity's exports. According to the source, the impact on prices due to ban is a temporary and prices would go up again due to the supply crunch of the commodity till September, they said.
The Centre had announced ban on export of maize till October 15 to step up the domestic supply and in turn contain inflation which has risen to a double-digit level. As July-September being a lean period, the limited stock supplies would put pressure on prices till the ban period. With the sudden ban on exports, maize prices are sliding since yesterday. Spot prices fell to Rs 957 a quintal from Rs 964 a quintal. While on NCDEX, most-active July delivery of maize dropped by almost 8 per cent to Rs 894 a quintal.
The Centre had announced ban on export of maize till October 15 to step up the domestic supply and in turn contain inflation which has risen to a double-digit level. As July-September being a lean period, the limited stock supplies would put pressure on prices till the ban period. With the sudden ban on exports, maize prices are sliding since yesterday. Spot prices fell to Rs 957 a quintal from Rs 964 a quintal. While on NCDEX, most-active July delivery of maize dropped by almost 8 per cent to Rs 894 a quintal.
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