Barley futures plunge on weak spot markets

Barley prices came down by Rs 15.50 to Rs 1,429 per quintal in futures trade today after participants liquidated holdings amid a weak trend at the spot markets.

At the National Commodity and Derivatives Exchange, barley contract for the most-traded May month fell by Rs 15.50 or 1.07 per cent to Rs 1,429 per quintal, with an open interest of 13,590 lots.

Barley for delivery in June also declined by Rs 15.50 or 1.06 per cent to Rs 1,451 per quintal, in an open interest of 980 lots.

Marketmen said the fall in barley futures was mostly due to offloading of positions by participants in line with a weak trend at spot markets on mounting stocks.

However, seasonal demand from beer makers, capped the losses.