Barley futures extend gain on fresh buying

Barley futures prices gained for the third straight day by adding Rs 26 to Rs 1,298 per quintal in the future trade today on sustained buying by traders on the back of firm spot market cue.

Market analysts said reports of damage in crops due to steep fall in temperature advised speculators to enlarge their positions. 

They said increased buying by alcohol and cattle feed-making industries against paucity of stocks, further bolstered the market sentiment.  

At the National Commodity and Derivatives Exchange counter, barley for March-month delivery jumped up by Rs 26, or 2.04 per cent, to Rs 1,298 per quintal, with an open interest of 3,360 lots.