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Barley prices are on the rise on lower arrivals in the spot market and worries over output due to scanty rains in growing areas of Rajasthan and Haryana.
However, the cereal that gained froth last week in the futures market, has slid down today due to profit booking and warning from the Government that it may ban futures trading.
With grain prices in the US rallying due to worst drought in five decades, coarse cereals prices in India too, are gaining. This is following the speculation that produce such as barley could increasing be looked at as feed. Fresh positions taken by speculators in far-month contracts are also driving prices up. Barley for delivery in August climbed to Rs 1,442 (up Rs 5.5) a quintal on the NCDEX on Friday. September contracts were quoted at Rs 1,476 (up Rs 8.5) and October at Rs 1,520 (down Rs 22).
In the Jaipur spot market, barley was quoted at Rs 1,369 (against last week's Rs 1384.45) a quintal.
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