Maize prices decline on weak spot cue

New Delhi, Sep 12 (PTI) Maize prices drifted lower by 1.49 per cent to Rs 1,324 per quintal in futures trade Wednesday after participants off-loaded holdings in sync with downbeat sentiment at the physical markets.

Marketmen said offloading of positions by traders triggered by fall in demand from poultry feed makers in the spot markets amid soaring stocks on consistent supplies, led to the fall in maize futures prices.

At the National Commodity and Derivatives Exchange, maize for September dropped by Rs 20, or 1.49 per cent, to Rs 1,324 per quintal with the business turnover of 1,390 open interest lots.