Maize prices dropped by Rs 11 to Rs 1,179 per quintal in futures trading today after cutting down of exposures amid weak spot markets trend.
Market players attributed the downtrend to thin demand from poultry feed makers amid mounting stocks on relentless supplies in spot market.
At the National Commodity and Derivatives Exchange, maize delivery for the first contract May declined by Rs 11 or 0.92 per cent to Rs 1,179 per quintal, having an open interest of 2,860 lots.
The delivery of the most traded second contract June also receded by Rs 5 or 0.42 per cent to Rs 1,194 per quintal in a business turnover of 3,150 lots.
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