Barley sheds almost 2% on selling pressure

May contract down 1.83% to Rs 1,531 a quintal, June barley loses 1.7%

Barley prices declined by Rs 28.50 to Rs 1,531 per quintal in future trading today following increased selling by traders in tandem with weak spot markets sentiment.

Marketmen said increased supply and reduced offtake in physical markets mainly put weight here on future price of barley.

Slackness in demand from beer and cattle-feed making industries at current higher levels also influenced trading sentiments, they said.

At the National Commodity and Derivatives Exchange, barley for delivery in May shed Rs 28.50, or 1.83%, to Rs 1,531 per quintal with an open interest of 26,320 lots.

The June month contract lost Rs 27, or 1.69%, to Rs 1,570 per quintal, having an open interest of 17,760 lots.