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Maize prices dipped by Rs 16 to Rs 1,245 per quintal in futures trading today following selling pressure in line with weak physical market sentiments.
Marketmen said increased selling, driven by weak physical market sentiments, where prices remained under pressure due to increased arrivals and reduced offtake, caused the fall in prices.
Lower trend in overseas markets also dampened the trading sentiments.
At the National Commodity and Derivatives Exchange, maize prices for March contract fell by Rs 16, or 1.27%, to Rs 1,245 per quintal, with an open interest of 3,560 lots.
Current January month contract also dropped by Rs 12, or 0.99%, to Rs 1,206 per quintal, with an open interest of 13,280 lots.
