Barley futures decline on spot sentiment

Barley prices came down by Rs 13 to Rs 1,411.50 per quintal in futures trade today on liquidation of holdings owing to pessimistic physical sentiment.

Market players said, pursuing weak physical markets cues, operators preferred to off-load holdings, which pulled down the trading sentiment in barley futures prices.

At the spot market, increased supplies from producing areas amid lack of buying support from beer making industries kept prices lower.

At the National Commodity and Derivatives Exchange counter, barley delivery for May receded by Rs 13 or 0.91 per cent to Rs 1,411.50 per quintal, with an open interest of 2,850 lots.

Meanwhile, the barley delivery for June eased by Rs 9.50 or 0.66 per cent to Rs 1,420 per quintal, having an open interest of 15,180 lots.