Maize prices fell across key spot markets as demand from feed manufacturers fell.
Bulk buyers have trimmed their purchases as they are awaiting prices to decline with the arrival of the Bihar crop. Bihar is the largest producer of rabi maize and the fresh crop arrivals are expected to start within a fortnight.
In Nizamabad, maize arrivals were pegged steady at 2,500-2,600 bags (1 bag = 100 kg), while in Davangere, arrivals were about 300-400 bags higher at 2,500 bags.
Taking a cue from the spot markets, futures contracts of maize, too, fell on the NCDEX. The most-active June contract ended 10 rupees lower at 1,760 rupees per 100 kg.