Barley futures dip on spot demand

Barley prices tumbled by Rs 27 to Rs 1,437 per quintal in futures trade today following offloading of positions by operators in tune with a weak trend at the physical markets due to muted demand.

At the National Commodity and Derivatives Exchange, barley for October dipped Rs 27, or 1.84 per cent, to Rs 1,437 per quintal, having an open interest of 2,170 lots.

In a similar manner, barley to be delivered in November receded by Rs 20, or 1.34 per cent, to Rs 1,468 per quintal, with an open interest of 510 lots.

Marketmen said trimming of positions by participants amid a weak trend at the physical markets due to fall in demand from beer makers amid mounting stocks on constant supplies, led to the fall in barley futures.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)