Barley futures fall on profit-booking

NEW DELHI: Barley prices drifted by Rs 19 to Rs 1,364 per quintal in the futures trading today following increased selling at existing higher levels in tandem with weak spot markets sentiment.

Marketmen said higher supply and reduced offtake in physical markets mainly put weight on future prices.

Weak demand from beer and cattle-feed making industries too put pressure on the futures pries, they said.

At the National Commodity and Derivatives Exchange, barley prices for the April contract dropped by Rs 19, or 1.37 per cent, to Rs 1,364 per quintal in open interest of 5,580 lots.

The May contract also slipped by Rs 18, or 1.28 per cent, to Rs 1,388.50 per quintal with an open interest of 1,090 lots.