Barley futures decline on weak spot cues

Barley prices drifted lower by Rs 15 to Rs 1,598 per quintal in futures trading today after participants liquidated their exposure partially in line with weak trend at the physical markets.
Market players said a subdued trend at the domestic spot markets due to slackened demand from beer and cattle-feed makers amid ample stocks on higher arrivals from growing belts mainly led to the fall in prices of barley in futures trade here.
At the National Commodity and Derivative Exchange, barley for delivery in far-month June dropped by Rs 15, or 0.93 per cent, to Rs 1,598 per quintal, with an open interest of 470 lots.

Barley for delivery in May also moved down by Rs 11, or 0.69 per cent, to Rs 1,578 per quintal, having an open interest of 7,000 lots.