Barley futures looks up on fresh buying

Barley futures prices rose by Rs 22.20 to Rs 1,125.20 per 100 kg in the futures trading today on emergence of buying by traders in tandem with short supply and better demand in physical markets. 

Market analysts said restricted supply and rising demand in the spot market, influenced trading sentiments here in future trade.

Strong demand from alcohol and cattle feed-making industries also supported the trading sentiments, they added. 

At the National Commodity and Derivatives Exchange counter, barley price for delivery in April advanced by Rs 22.20, or 2.01 per cent, to Rs 1,125.20 per 100 kg, with an open interest of 1,150 lots. 

Current March-month delivery contract moved higher by Rs 5, or 0.38 per cent, to Rs 1,322.40 per quintal, with an open interest of 3,710 lots.