Barley futures turn weak on profit taking

Barley prices fell by Rs 9.60 or 0.82 per cent to Rs 1,163.40 per quintal in futures trade today on profit booking by traders, amid weak spot market sentiment.

Marketmen said reduced offtake by beer and cattle-feed makers, along with increased supply from the growing regions, pulled barley futures in red zone.

At the National Commodity and Derivatives Exchange counter, barley prices for August-month contract slipped by Rs 9.60 or 0.82 per cent to Rs 1,163.40 per quintal, with an open interest of 1,050 lots.

Current June-month contract too followed suit and fell by Rs 4.60 or 0.41 per cent to Rs 1,124 per quintal, with an open interest of 3,850 lots.