Maize prices slumped by Rs 24 to Rs 1,156 per quintal in futures trade today owing to trimming of exposure by speculators amid a weak trend at the physical markets.
At the National Commodity and Derivatives Exchange, maize to be delivered in May fell by Rs 24, or 2.03 per cent to Rs 1,156 per quintal, with an open interest of 2,850 lots.
In a similar way, the most-traded delivery in June contract slipped by Rs 16 or 1.34 per cent to Rs 1,178 per quintal, having an open interest of 3,160 lots.
Market players said the fall in maize prices was due to cutting down of bets by participants in tandem with a weak trend at the spot markets due to muted demand against arrivals of new crops in the market.
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