Barley futures decline as participants trim positions

Barley prices slumped by Rs 20.50 to Rs 1,423 per quintal in futures trading today after speculators cut down their positions at existing levels amid a weak trend at the physical markets.

Marketmen said a weak trend at the spot markets due to fading demand from beer makers and other industries mainly weighed on barley prices in futures trade here.

At the National Commodity and Derivative Exchange, barley to be delivered in June contracts drifted lower by Rs 20.50 or 1.42 per cent to Rs 1,423 per quintal, with an open interest of 5,640 lots.

Barley for delivery in July contracts too slipped by Rs 18 or 1.22 per cent to Rs 1,454 per quintal, in an open interest of 5,590 lots.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)