Barley futures declines on aggressive selling

Barley prices dipped by Rs 13.20 to Rs 1,211 per quintal in futures trade today on violent selling by traders, tracking poor spot market sentiment.

Marketmen said aggressive selling in tandem with lower spot market cues on poor offtake by beer and cattle feed industries along with higher supply, led to a fall in barley futures prices.

At the National Commodity and Derivatives Exchange counter, barley prices for current-month December delivery at Jaipur tumbled by Rs 13.20 or 1.08 per cent to Rs 1,200 per quintal, with an open interest of 3,500 lots.