Barley futures weaken on ample stocks

Barley futures prices declined by Rs 13.20 to Rs 1,228 per quintal in the future trading today following mounting of stocks, amid sluggish demand in physical markets.

Market analysts said, heavy arrivals and reduced offtake by alcohol and cattle feed making industries in the spot market, put pressure here on future price of barley.

At the National Commodity and Derivatives Exchange counter, barley price for delivery in March delivered at Jaipur, dropped by Rs 13.20, or 1.06, to Rs 1,228 per quintal, with an open interest of 2,390 lots.

Near April month delivery contract also dipped by Rs 9.40, or 0.83 per cent, to Rs 1,128 per quintal, with an open interest of 1,970 lots.