Maize futures fell on fresh arrivals

Maize prices plummeted by Rs 12.50 to Rs 1,043 per quintal in the future trade today on fresh arrivals at the physical markets. 

Marketmen said fall in demand against fresh supply of new crop into the markets, put pressure on futures prices of maize.  

Slackness in demand from bio-fuel making industries also brought down the prices to some  extent, they added.

At the National Commodity and Derivatives Exchange counter, maize prices for the February month contract slided by Rs 12.50, or 1.18 per cent to Rs 1043 per quintal, with an open interest of 820 lots.

The November month contract also followed suit and dipped by Rs 7, or 0.71 per cent to Rs 977 per quintal, with an open interest of 8,590 lots.