Barley futures extend gains on spot demand

Barley prices were higher by Rs 43.50 to Rs 1,572 per quintal in futures trading today as speculators indulged in widening their positions, influenced by firm physical markets sentiment.
At the National Commodity and Derivatives Exchange, barley for delivery in May climbed Rs 43.50, or 2.85 per cent to Rs 1,572 per quintal, with an open interest of 9,810 lots.
Similarly, barley for delivery in April was trading higher by Rs 41.50, or 2.76 per cent, to Rs 1,543 per quintal, in an open interest of 4,790 lots.
Marketmen attributed persistent rise in barley prices at futures trade to strong demand from beer makers as well as tight supplies at the spot markets.