Barley futures gain on fresh buying

Barley prices rose by Rs 12.60 to Rs 1,214 per quintal in future trade today on fresh buying by traders amid firm spot market demand.

Marketmen said low stock availability amid reduced arrivals in the physical market encouraged traders to raise their holdings of barley futures.

Strong demand from the alcohol, poultry and cattle feed-making industries pushed up barley prices in the spot market, they added.

At the National Commodity and Derivatives Exchange, the most actively traded September contract for barley advanced by Rs 12.60, or 1.05%, to Rs 1,214 per quintal, with an open interest for 5,610 lots.

October contract barley also moved up by Rs 6.20, or 0.50%, to Rs 1,236 per quintal in 180 lots.