Barley futures decline on negative physical sentiments

Barley prices dip by Rs 22.50 to Rs 1,618.50 per quintal in futures trade as speculators sell-off holdings, depressed by downbeat physical cues.

Marketmen tracking weak sign of the physical markets, traders preferred to shrink their holdings, which led fall in barley prices.

In the spot markets, soaring stocks on constant arrivals from producing regions, and slackness in demand for beer-making industries kept the prices down, they added.

At the National Commodity and Derivatives Exchange counter, barley delivery for September tumbled by Rs 22.50 or 1.37 per cent to Rs 1,618.50 per quintal, with an open interest of 980 lots.

Also, the delivery for October fell by Rs 15.50 or 0.92 per cent to Rs 1,665.50 per quintal, clocking an open interest of 7,740 lots.