Barley futures slip 0.34% on weak physical markets

Barley prices edged lower by 0.34 per cent to Rs 1,633 per quintal in futures trade today as traders released holdings at prevailing levels amid weak physical market leads.

Marketmen said, investors were cautious and cut down bets on upper levels, following the weak spot markets trend, where prices were trading lower due to fall in demand for beer making industries along with mounting of stocks on constant arrivals from growing belts, which led to the downside in barley futures.

At the National Commodity and Derivatives Exchange, barley delivery for September fell by Rs 5.50, or 0.34 per cent, to Rs 1,633 per quintal, showing an open interest of 5,510 lots.

Also, the delivery for August inched lower by Rs 2.50, or 0.16 per cent, to Rs 1,608 per quintal, depicting an open interest of 5,540 lots.