Barley declines in futures trade on weak demand

NEW DELHI: Barley prices were down by Rs 23 to Rs 1,485 per quintal in futures trading today after speculators reduced positions, tracking a weak trend in the spot markets on subdued demand.

At the National Commodity and Derivatives Exchange counter, barley for delivery in current month contracts eased by Rs 23, or 1.53 per cent, to Rs 1,541 per quintal, depicting an open interest of 2,500 lots.

Also, most-active October month contracts dropped by Rs 6.50, or 0.42 per cent, to Rs 1,541 per quintal in an open interest of 7,370 lots.

Marketmen said a weak trend in the physical markets due to subdued demand due to off-season amidst increased supplies, mainly led to the fall in prices here in future trading.