Barley futures fall on weak spot market cues

Barley futures prices fell by Rs 48.20, or 3.92 per cent, to Rs 1,181 per quintal today, as traders sold their holdings in line with the weak spot market sentiment.

Marketmen said heavy supply and reduced offtake by alcohol and cattle-feed makers in the physical markets advised traders to reduce their holdings.

At the National commodity and Derivatives Exchange counter, barley prices for March contract plummeted by Rs 48.20, or 3.92 per cent, to Rs 1,181 per quintal, with an open interest of 50 lots.

Current October-month contract also depreciated by Rs 4, or 0.31 per cent, to Rs 1,283 per quintal, with an open interest of 8,290 lots.