Maize futures recover on short covering

Maize prices increased by Rs 8.50 to Rs 1,262 per quintal, in futures trade today on the back of low level buying by traders on a firm spot market.

Market analysts said that besides low level buying,rising demand of bio products and cattle-feed making industries helped in boosting the trading sentiments.

At the National Commodity and Derivatives Exchange, maize prices for April contract rose by Rs 8.50, or 0.68%, to Rs 1,262 per quintal, with an open interest of 16,280 lots.

Similarly, the May contract went up by Rs 0.8, or 0.63%, to Rs.1,283 per quintal, with an open interest of 15,210 lots.