Barley up on short-covering, spot demand

Barley prices firmed up by Rs 18.50 to Rs 1,365 per quintal in futures trading today on firm trend in the spot markets after speculators covered-up their short positions.

At the National Commodity and Derivatives Exchange, barley for delivery in June rose by Rs 18.50, or 1.37%, to Rs 1,365 per quintal, with an open interest of 29,130 lots.

The July contract was up 1.27% and traded Rs 17.50 at Rs 1,396 per quintal, with an open interest of 6,790 lots.

Marketmen said apart from short-covering by speculators, rising demand from consuming industries also influenced barley futures prices here today.