Maize prices declined by Rs 27.50 to Rs 1,310 per quintal in future trade today on profit-booking by speculators, driven by a weak global and domestic markets sentiment.
Market analysts said apart from profit booking, weak overseas advices caused the down fall in maize prices. Also, adequate stocks following increased supply further influenced the trading sentiment.
At the National Commodity and Derivatives Exchange, maize for delivery in August shed Rs 27.50, or 2.06% to Rs 1,310 per quintal, with an open interest of 140 lots.
Maize futures prices for June delivery fell by Rs 20, or 1.58% to Rs 1,242.50 per quintal, with an open interest of 10,250 lots.
Likewise, its prices for delivery in May moved down by Rs 17, or 1.36% to Rs 1,228.50 per quintal, with a business volume of 9,880 lots.