Maize plummets on bumper crop production

PTI New Delhi | Updated on June 27, 2011

Maize prices plummeted by Rs 42 to Rs 1,113 per quintal in futures trading today on fresh selling by traders, guided by weak domestic and global markets sentiment.

Market analysts said bumper crops production estimates this year amid weak overseas markets’ cues had speculators reducing their positions.

At the National Commodity and Derivatives Exchange, maize for delivery in October dropped by Rs 42 or 3.64 per cent, to Rs 1,113 per quintal, clocking an open interest of 2,130 lots.

Likewise, prices for delivery in July tumbled by Rs 28 or 2.80 per cent to Rs 1,200.50 per quintal showing an open interest of 17,410 lots.

Published on June 27, 2011

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