Barley up by 1.5% on short covering

Low levels buying by traders influenced barley prices

Barley prices recovered by Rs 18 to Rs 1,210.50 per quintal in futures trading today owing to low levels buying by traders, supported by emerging physical markets sentiments.

 

Marketmen said pick up in demand in spot markets at existing lower levels mainly pushed up barley prices in futures trading.

 

Strong demand from beer making industries also boosted the trading sentiment, they said.

 

At the National Commodity and Derivatives Exchange, barley for August month gained by Rs 18, or 1.51% to Rs 1,210.50 per quintal, open interest was 22,960 lots.

 

Near September contract also looked up by Rs 14, or 1.15% to Rs 1,231 per quintal, with an open interest of 10,520 lots.