Maize seen bullish

COMMODITY SPIKES

Despite the low output estimates of maize, the futures market of the commodity is reeling under a weak phase. On Ncdex, the maize contract for May delivery plunged by 6 per cent last week.

Commodities experts, however, said it was a brief phase and would soon end as the arrival period ends in two weeks.

"The country already has a shortage of around 2 million tonnes, and the imports, despite a falling dollar, are not proving sufficient. These factors can trigger bullish sentiments in the market," analysts said. On Saturday, the commodity closed at Rs 722 a quintal compared with last week's closing price of Rs 768.