Barley futures decline on selling pressure

Barley prices drifted lower by Rs 17.50 to Rs 1,511 per quintal in future trading today as traders were liquidating their positions in line with weak physical markets sentiment.

Marketmen said increased selling by traders,driven by weak spot markets sentiment where prices were trading lower due to constant arrivals amid muted demand, mainly led the fall in barley prices here in future trading.

Apart from slackened demand from beer makers too weighing on prices, they quoted.

At the National Commodity and Derivative Exchange, barley delivery for delivery in September month dropped by Rs 17.50, or 1.14 per cent to Rs 1,511 per quintal, with an open interest of 11,840 lots.
 

The delivery for second contract October month delivery also slipped by Rs 17, or 1.08 per cent to Rs 1,551 per quintal, in an open interest of 2,780 lots.