MUMBAI, Jan 29 (Reuters) - India corn futures may trade higher on Thursday on renewed local demand, brisk export demand from Bangladesh and Sri Lanka and continued buying by government agencies, analysts said.
However, profit-taking at higher levels may trim some gains, they said.
Demand from the local poultry feed industry has started to pick up after a gap of three months, analysts and traders said.
The Food Corp of India (FCI) and state-level agencies have been aggressively buying corn in the past two weeks to keep prices from falling below the state-set 840 rupees per 100 kg, traders and analysts said.
Prices had been softening for the last three months as a fall in local demand due to a bird flu outbreak coincided with the global slowdown, hitting exports, analysts said.
February futures NMZG9 on the National Commodity and Derivatives Exchange ended at 876.5 rupees per 100 kg, down 1.13 percent in the previous session.
Source : REUTERS INDIA