Barley futures hit upper circuit, climbs 4%

Barley prices shot up by 4 per cent to hit upper circuit at Rs 1,528.50 per quintal in futures trading today following aggressive buying by participants, driven by firm physical markets sentiment.
Marketmen attributed the sharp rise in barley prices at futures trade to spurt in summer season demand from beer makers at the spot markets amid tight arrivals from growing regions.
At the National Commodity and Derivatives Exchange, barley for delivery in May spurted by Rs 58.50, or 4 per cent to hit daily upper limit at Rs 1,528.50 per quintal, with an open interest of 8,720 lots.
In a similar fashion, barley for April delivery also climbed Rs 57, or 3.95 per cent, to Rs 1,501 per quintal, in an open interest of 5,170 lots.