Barley prices declined by Rs 23.80 to Rs 1,420.60 per quintal in futures trade today following heavy selling by traders on the back of rising inventories.
Market analysts said heavy arrival of new crops into the spot market created huge stocks position, which led to the fall in barley prices.
Lower off-take by beer and cattle-feed making industries in spot markets on hopes of further fall in prices too dampened the trading sentiments, they added.
At the National Commodity and Derivatives Exchange, barley for delivery in June moved down by Rs 23.80, or 1.65% to Rs 1,420.60 per quintal, with an open interest 12,870 lots.
Barley prices for July delivery also went down by Rs 23.20, or 1.58% to Rs 1,441 per quintal, with an open interest of 940 lots.
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