Barley futures up on fresh buying

Higher offtake from breweries, cattle-feed industry push May deals up by 0.7%

Barley prices strengthened by Rs 10 to Rs 1,417 per quintal in future trade today on speculators buying influenced by firm spot markets sentiment.

Marketmen said pick up in demand from breweries and cattle-feed making industries at existing lower levels, amid restricted supply in physical markets, mainly led the rise in future price of barley.     

At the National Commodity and Derivatives Exchange, barley prices for near contract May month rose by Rs 10, or 0.71 per cent, to Rs 1,417 per quintal, with an open interest of 1,550 lots.

April contract prices moved up by Rs 2, or 0.14 per cent, to Rs 1,395.50 per quintal, having an open interest of 4,120 lots.