Barley stays firm

COMMODITY SPIKES

Continuous rising demand from overseas market stoked the barley market with bullish sentiments.

According to marketmen, export demands, mainly from West Asia, are unlikely to fall in the near future. Last week, the futures market breached the Rs 800 a quintal mark and managed to remain above this level.

"Rates of barley in physical market is ruling at Rs 825. There could be a further rise of Rs 25-30 a quintal," said Abhishek Agarwal, a Jaipur-based trader.

At present, stocks available in Jaipur, the main delivery centre, is around 15,000 tonnes.

On the National Commodity and Derivatives Exchange, the near month contract of barley closed at Rs 835 a quintal, up 5.15 per cent, against the previous week's closing at Rs 796 a quintal.