Maize falls on selling pressure

Slack in demand from bio-fuel makers pressurized prices

Maize prices declined by Rs 18 to Rs 1,230 per quintal in future trade today following heavy selling by traders in tandem with global markets trading lower today.

Marketmen said fall in its prices at overseas markets put pressure here in futures price of maize.

A slack in demand from bio-fuel making industries also dampened the trading sentiments, they said.

At the National Commodity and Derivatives Exchange, maize for far August month contract dropped by
Rs 18, or 1.44%, to Rs.1,230 per quintal, having an open interest of 1,080 lots.

The current May month contract fell by Rs 8, or 0.71%, to Rs 1,126 per quintal, showing an open interest of 8,180 lots.

Most active near June month contract also went down by Rs 8, or 0.68%, to Rs 1,162 per quintal, witnessing an open interest of 11,730 lots.