Barley futures plunge on weak spot demand

Barley prices slumped by Rs 29 to Rs 1,443 per quintal in futures trading today as participants slashed their exposure amid subdued trend at the spot markets.
Market players said the fall in barley prices at futures trade was mostly due to trimming of positions by participants, triggered by a weak trend at the spot markets on muted demand from beer makers amid increased supplies from growing belts.
At the National Commodity and Derivative Exchange, barley for delivery in current month dived Rs 29 or 1.97 per cent to Rs 1,443 per quintal, with an open interest of 240 lots.

Barley for delivery in most-active June month contract followed suit and slipped by Rs 13.50 or 0.91 per cent to Rs 1,471 per quintal, having an open interest of 7,480 lots.