Barley up 2.37% on strong demand

Strong demand from breweries and cattle-feed making industries and limited supply in spot markets pulls Barley higher

Barley prices rose by Rs 41.50 to Rs 1,794 per quintal in futures trading today on increased speculative buying by traders, guided by firm spot markets sentiment.

At the National Commodity and Derivatives Exchange, barley for delivery in July gained Rs 41.50, or 2.37%, to Rs 1,794 per quintal, with an open interest of 360 lots.

The most-active May contract added Rs.18.50, or 1.10%, to Rs 1,703.50 per quintal, having an open interest of 22,960 lots. April barley was up by Rs.10, or 0.61%, to Rs.1,650 per quintal, clocking an open interest of 7,030 lots.

Analysts said strong demand from breweries and cattle-feed making industries amid restricted supply in physical markets, mainly led the rise in futures price of the commodity.