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Barley Lingers Around Six Week Highs

Capital Market/ 16:23 , Sep 04, 2013

Spot Barley prices edged up to around Rs 1310 per quintal in Jaipur-six week highs for the commodity as steady undertone in cereals supports. Export inquiries are keeping sentiments supported after prices had tested their four-month low in Jaipur in last week of July. The commodity witnessed good upswing earlier as demand from exporters and stockists picked up but has been trending lower in last few weeks. The arrivals remain steady and could witness some moderation over next few weeks. The IGC sees global 2013/14 barley production at 138 million metric tonnes (mmt), which is up from the 130 mmt produced in 2012/13. Total Barley output in India is expected to be 1.82 million tonnes in the latest rabi season, up 12.34% over the year according to the agri ministry updates.

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