Barley surges for third day in a row, up 3.37%

Traders enlarge positions, on strong demand from beer makers and cattle-feed units

Rising for the third straight day, barley prices went up by another Rs 47 to Rs 1,440 per quintal at futures trade today as participants enlarged positions, tracking a firming trend at the physical market.

Marketmen said persistent rise in barley prices at futures trade was mostly supported by a firming trend at the physical markets on the back of strong demand from beer and cattle-feed industries against restricted supplies from growing belts.

At the National Commodity and Derivatives Exchange, barley for delivery in April spurted by another Rs 47, or 3.37 per cent, to Rs 1,440 per quintal, with an open interest of 70 lots.

The November contract climbed Rs 29.50, or 2.23 per cent, to Rs 1,349.50 per quintal, having an open interest of 11,090 lots, while contracts for delivery in October rose Rs 21, or 1.66 per cent, to Rs 1,286.50 per quintal, in an open interest of 9,550 lots.