Barley down 1.9% as speculators trim position

April contract remained in pressure and eased by 0.2%

Barley prices dropped by Rs 28.50 to Rs 1,413.50 per quintal in futures trading today as speculators trimmed positions amid weak trend in the physical markets.

At the National Commodity and Derivatives Exchange counter, barley prices for delivery in July month contracts dipped by Rs 28.50, or 1.98%, to Rs 1,413.50 per quintal, in an open interest of 10 lots.

First contract April month too remained in pressure and eased by Rs 3, or 0.22%, to Rs 1,361.50 per quintal and open interest was 3,120 lots.

Markemen said weak trend in the physical markets against higher supplies, weighed on barley prices at futures trade.