India corn futures ease as bird flu hits demand
MUMBAI, Dec 2 (Reuters) - Indian corn futures eased on Tuesday on lower demand following an outbreak of bird flu in the north eastern state of Assam last week, analysts said.
Corn is mainly used as poultry feed.
Lower prices were supported by a delay in purchases by traders, who are hoping to buy at a lower prices from a government agency currently procuring stocks from farmers.
January corn NMZF9 fell 0.42 percent to end at 834.50 rupees per 100 kg on the National Commodity and Derivatives Exchange.
However, recent export orders limited some of the losses, analysts said.
Traders have signed deals to export about 125,000 tonnes of the commodity in the last four weeks. (Reporting by Abhishek Shanker and Debiprasad Nayak; Editing by Harish Nambiar)
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