Barley down 1.3% on ample supply

Commodity for delivery in May traded lower by 1.16%

Barley prices dropped by Rs.19.50 to Rs.1,378.50 per quintal in futures trade today following offloading of positions by traders amid mounting stocks following higher supplies in spot markets.

At the National Commodity and Derivatives Exchange counter, barley prices for most-active far-month July delivery contracts dipped by Rs.19.50, or 1.39% to Rs.1,378.50 per quintal, in an open interest of 1,130 lots.

Similarly delivery in current month, May contracts shed Rs.15, or 1.16% to Rs.1,320 per quintal, with an open interest of 3,120 lots, while delivery in June month contracts moved down by Rs.12,50, or 0.92% to Rs.1,347.50 per quintal, clocking an open interest of 10,590 lots.

Marketmen attributed fall in barley prices at futures trade to huge stocks following higher supplies but seasonal demand from consuming industries, particularly beer makers, capped the losses.