Barley futures dip on low spot demand

Barley prices were down by Rs 10.50 to Rs 1,417 per quintal in futures trade today as participants trimmed holdings, driven by weak physical markets sentiment.
Marketmen said trimming of bets by traders, tracking weak trend at the physical markets on sustained arrivals from growing regions, attributed the fall in barley prices in futures trade.
Besides, reduced offtake by beer and cattle-makers too weighed on prices.
At the National Commodity and Derivatives Exchange, barley for delivery in August declined by Rs 10.50, or 0.74 per cent, to Rs 1,417 per quintal, having an open interest of 5,140 lots.
Similarly, barley for delivery in September moved down by Rs 8.50, or 0.59 per cent, to Rs 1,437 per quintal, clocking an open interest of 1,580 lots.