Barley gains 2% on low-level buying

Barley prices recovered by Rs 31 to Rs 1,563 per quintal in futures trading today following low level buying by traders.

Marketmen said after a couple of day's fall, traders preferred to built up new positions at prevailing low levels.

Strong demand from alcohol and cattle-feed making industries in physical markets also boosted the trading sentiments to some extent, they said.

At the National Commodity and Derivatives Exchange, barley for April delivery recovered by Rs 31, or 2.02%, to Rs 1,563 per quintal, with an open interest of 4,350 lots.

The May contract gained Rs 31, or 2.01%, to Rs 1,577 per quintal, with an open interest of 3,230 lots.