Barley falls on profit-booking

Increased supplies of the crop also pushed prices higher

Barley prices dropped by Rs 29 to Rs 1,434 per quintal in futures trading today due to profit-booking by traders at prevailing higher levels.

Marketmen said apart from profit-taking at prevailing levels, increased supplies of new crop in physical markets mainly put pressure on barley prices.

At the National Commodity and Derivatives Exchange counter, barley prices for the far-month September contract declined by Rs 29, or 1.98%, to Rs 1,434 per quintal, with an open interest of 30 lots.

The June contract also moved down by Rs 12.50, or 0.92%, to Rs 1,347 per quintal, having an open interest of 25,270 lots.