Mumbai, Oct 27 - Supported by the expectations of exports of around 50,000 tonnes of maize every month, maize futures are trading higher on the National Commodity and Derivatives Exchange [NCDEX] Saturday. Barley futures also gained at the initial trade.

Maize of India origin is seen to rule world market in coming weeks if existing conditions do not undergo a major shift, say industry participants. Experts maintain that development on global front are supportive and can help Indian maize take the big leap.To start with, the exports from India are likely to improve following China's decision to ban exports from the country and the US raising freight charges. Shortage of stocks in China may also likely prompt the national government to stop setting up of new maize processing plants.

A trader says the decision by United States to raise the freight charges would favour Indian maize. Maize from the US delivered at Malaysian ports costs around $290/tonne, while India can export to the same ports for around $245/tonne, basis cost and freight.

A global firm has recently sold 14,500 tonnes maize of Indian origin in Malaysia market. Industry sources confirm the deal for November delivery to have taken place at $205/tonne. Indian maize is now being offered around $220/tonne, free-on-board and is considered positive.

The deal has had its positively effect on maize futures. The benchmark NCDEX November maize gained Rs 4 to trade at Rs 701/quintal while December maize futures went up Rs 4.50 to trade at Rs 720/quintal.

The benchmark NCDEX November barley gained Re 0.20 to trade at Rs 1255.20/quintal while December contract jumped Rs 4.80 to trade at Rs 1255/quintal.