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This is an archive article published on March 28, 2011

Barley futures down on selling pressure

Barley prices shed Rs 10.80 to Rs 1,128 per quintal in the future trading.

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Barley prices shed Rs 10.80 to Rs 1,128 per quintal in the future trading on Monday following fresh selling by traders in line with weak spot market cues.

Market analysts said increased supply and reduced offtake in the physical markets mainly led to the fall in barley futures prices.

Sluggish demand from beer and cattle-feed making industries too helped in pulling down the trading sentiments.

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At the National Commodity and Derivatives Exchange,barley for delivery in April fell by Rs 10.80,or 0.95 per cent,to Rs 1,128 per quintal,with an open interest of 4,360 lots.

Likewise,prices for delivery in May fell by Rs 9,or 0.77 per cent,to Rs 1,158.20 per quintal,with an open interest of 5,490 lots.

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