Barley futures plunge on weak spot cues

Barley prices were sharply down by Rs 26.50 to Rs 1,488.50 per quintal in futures trade today as participants indulged in trimming positions in the wake of subdued trend at the physical markets.

Marketmen said the weakness in the barley futures prices was attributed to offloading of holdings by participants in line with a weak trend at the physical markets on muted demand from beer makers amid increased supplies from growing belts in spot markets.

At the National Commodity and Derivative Exchange, barley for delivery in November slipped by Rs 26.50 or 1.75 percent to Rs 1,488.50 per quintal, with an open interest of 1,850 lots.

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