Barley futures slip as participants trim position

NEW DELHI: Barley prices drifted lower by Rs 10.50 to Rs 1,628.50 per quintal in futures trading today following constant selling by traders in tandem with weak physical markets sentiment.

At the National Commodity and Derivative Exchange, barley for delivery in September month dropped by Rs 10.50, or 0.64 per cent to Rs 1,628.50 per quintal, having an open interest of 4,140 lots.

In a similar fashion, delivery in August month delivery shed Rs 10, or 0.62 per cent to Rs 1,597.50 per quintal and business turnover of 10,160 open lots.

Marketmen said cutting down of positions by participants amid a weak trend at the spot markets on withdrawal of buying by beer makers, mainly weighed on barley prices at futures trade here.

Besides, increased arivals from growing regions attributed fall in prices, they added.