Maize futures fell on profit taking

Maize futures prices declined by Rs 14.50 to Rs 1,205.50 per quintal in the futures trade today on profit booking by traders at existing higher levels.

Market analysts said fall in demand along with fresh supply of new crops into the markets, put weight here on future prices of maize.

Slackness in demand from biofuel making industries also helped to brought down the sentiment to some extent, they added.

At National Commodity and Derivatives Exchange counter, maize prices for delivery in May fell by Rs 14.50, or 1.19 per cent, to Rs 1,205.50 per quintal, with an open interest of 2,600 lots.

Current February-month delivery contract also remained under pressure and lost Rs 12.50, or 1.08 per cent, to Rs 1,146 per quintal, with an open interest of 21,450 lots.