Barley futures prices turned weak by losing Rs 14 to Rs 1,123 per quintal today following profit booking by traders at higher levels, driven by increased supply and reduced offtake in physical markets.
Market analysts said apart from profit taking, increased arrivals and slow down in demand from alcohol and cattle feed making industries in spot markets, mainly pulled down prices.
At the National Commodity and Derivatives Exchange counter, barley price for delivery in March at Jaipur dropped by Rs 14, or 1.23 per cent, to Rs 1,123 per quintal, showing an open interest of 260 lots.
April month contract also slipped by Rs 11, or 1.04 per cent, to Rs 1,050 per quintal, clocking an open interest of 290 lots.
