Maize prices moved down by Rs 38.50 to Rs 1,254 per quintal in futures trade today as traders preferred to off-load holdings on the back of weak spot markets sentiment.
Market analysts said increased supply and sluggish demand in the physical markets put pressure on traders to reduced holdings.
Also, weak advices from bio-fuel and cattle-feed making industries brought down the prices, they added.
At the National Commodity and Derivatives Exchange, maize for delivery in June dropped by Rs 38.50, or 2.98% to Rs 1,254 per quintal, with an open interest of 10,460 lots.
Similarly, its prices for delivery in May slipped by Rs 32, or 2.53% to Rs 1,234 per quintal, with a business turnover of 12,160 lots.
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