Agri Business

Barley futures up on paucity of stocks

PTI New Delhi | Updated on January 11, 2011

A labourer cleaning the harvested crop at a wholesale grains mandi.   -  The Hindu

Barley futures prices rose by Rs 49 to Rs 1,272 per quintal at the future trade today following speculators buying in tandem with restricted arrivals at the spot market.

Market analysts said sustained demand from alcohol and cattle-feed making industries against paucity of stocks encouraged traders to go long, which caused the further rise in barley futures prices.

At the National Commodity and Derivatives Exchange platform, barley for March contract shot up further by Rs 49 or 4.01 per cent to Rs 1,272 per quintal with an open interest of 2,740 lots.

April contract hardened by Rs 18.40 or 1.63 per cent to Rs 1,149 per quintal with an open interest of 690 lots, while May contract surged by Rs 22.40 or 1.98 per cent to Rs 1,153 per quintal with an open interest of 30 lots.

Published on January 11, 2011

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