Barley up 1.5% on spot demand

Higher offtake from breweries, cattle-feed units amid tight supply puts pressure on futures

Barley prices rose by Rs 22 to Rs 1,360 per quintal in futures trade today as traders raised their holdings driven by firm spot markets sentiments.

Marketmen said higher physical markets sentiment following rising demand from breweries and cattle-feed making industries amid restricted supply put pressure on barley futures prices.

At the National Commodity and Derivatives Exchange, barley prices for September advanced by Rs 22, or 1.64%, to Rs 1,360 per quintal, with an open interest of 200 lots.

July barley rose by Rs 17.50, or 1.36%, to Rs 1,309 per quintal, with an open interest of 26,350 lots.