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This is an archive article published on April 15, 2011

Barley futures gain on fresh buying

Barley prices strengthened by Rs 11.20 to Rs 1,206 per quintal in future trading.

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Barley prices strengthened by Rs 11.20 to Rs 1,206 per quintal in future trading following fresh buying by traders on the back of firm spot markets cues.

Market analysts said low stocks position and reduced arrivals in physical markets encouraged traders to raise their positions.

Strong demand from alcohol and cattle-feed making industries was another reason behind price rise,they added.

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At the National Commodity and Derivatives Exchange,barley prices for delivery in May advanced by Rs 11.20,or 0.94 per cent,to Rs 1,206 per quintal,with an open interest of 12,460 lots.

The prices for delivery in April also went up by Rs 10,or 0.89 per cent,to Rs 1,137 per quintal,with a business turnover of 2,450 lots.

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