Barley futures plummet on aggressive selling

Barley futures prices plunged by Rs 21.60, or 1.64 per cent, to Rs 1,292 per quintal today, following selling by traders at persisting higher levels, driven by weak spot market sentiments. 

Marketmen said, aggressive selling in tandem with lower spot markets cue due to poor offtake by beer and cattle feed industries, along with higher supply, mainly led to the fall in barley future prices.

At the National Commodity and Derivatives Exchange counter, barley for delivery in December tumbled by Rs 21.60, or 1.64 per cent, to Rs 1,292 per quintal, with an open interest of 630 lots.

The November contract also followed suit and fell by Rs 18.20, or 1.40 per cent, to Rs 1,277.40 per quintal, with an open interest of 11,080 lots.