Mounting demand of poultry industries during the winter season incited the strong gains in barley market. Moreover, weak global production also add some gains in domestic market . As per the latest report from United States Department of Agriculture (USDA) , the total barley production in 2012-13 is estimated at 130.7 million tonnes , down almost 1.5% from the last year . This is mainly due to weak production estimated in Australia and Russia.
The spot prices of barley in Delhi mandi were trading in the range Rs 1090-1150 per quintal , up almost Rs 10 per quintal from the last day. While the total arrivals were remained thin in the range of 400-500 bags .
The NCDEX November Barley contract added almost Rs 2 per quintal to trade at Rs 1306 per quintal in the last trading. The contract wilted almost 100 positions in open interest indicating short covering by traders.Technically, prices are likely to witness some buying around Rs 1295-1296 per quintal while resistances are likely at Rs 1325-1330 per quintal in the short term.
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