Barley prices dropped by Rs 17.60 or 1.57 per cent to Rs 1,100 per quintal in futures trade today followed by profit booking at prevailing higher levels, backed by weak spot market sentiment.
Marketmen said poor demand from beer and cattle-feed makers, amid increased arrivals from the growing regions, led to a downfall in barley futures prices.
Reports of favourable monsoon in growing regions also hit the prices, they added.
At the National Commodity and Derivatives Exchange, barley prices for August-month contract dipped by Rs 17.60 or 1.57 per cent to Rs 1,100 per quintal, with an open interest of 530 lots.
June-month contract too slipped by Rs 5.40 or 0.50 per cent to Rs 1,071.80 per quintal, with an open interest of 8,320 lots.
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