Barley prices closed lower by 0.27 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors booked profits at the higher on account of the weak physical markets and also due to the fall in the demand from beer and cattle-feed makers. At the NCDEX, barley futures for June 2014 contract closed at Rs. 1,127 per quintal, down by 0.27 per cent, after opening at Rs. 1,128 against the previous closing price of Rs. 1,130. It touched the intra-day low of Rs. 1,127.
Sentiment weakened further on account of a surge in the arrivals of the commodity along with the sluggish demand on higher levels.
Barley is a cereal grain derived from the annual grass Hordeum vulgare. This widely adaptable crop is popular in temperate areas where it is grown as a summer crop and tropical areas where it is sown as a winter crop