Barley falls 1.99% on mounting stocks

Barley prices fell mainly attributes to weak physical markets due to ample supply from mills against reduced off take by beer and cattle feed making industries

Barley prices dropped by Rs 27.50 to Rs 1,353.50 per quintal in futures trade today as traders preferred to reduce holdings on the back of rising stocks position in spot markets.

 

Market analysts said the fall in Barley futures prices mainly attributes to weak physical markets due to ample supply from mills against reduced off take by beer and cattle feed making industries.

 

At the National Commodity and Derivatives Exchange, barley prices for November slipped by Rs 27.50 or 1.99% to Rs 1,353.50 per quintal, with an open interest of 250 lots.

 

Current July contract dipped by Rs 16.50 or 1.29%, to Rs 1,258.50 per quintal in an open interest of 2,150 lots.

 

Most active August contract looked down by Rs 14, or 1.08%, to Rs 1,278 per quintal, open interest was 33,920 lots.