Spot Market Update: Rising Arrivals Weigh On Barley

Barely has dropped on ideas that rising arrivals would cap the prices from hereon. The commodity has slipped in recent weeks as traders have started eyeing the rabi supplies and not much of an upside is being perceived. The government hiked the MSP for barley by 6.4% (from Rs 1,325 per quintal to Rs 1,410 per quintal). Spot prices are currently lingering at Rs 1370 per quintal in Jaipur, almost unchanged on the day. Arrivals are likely to increase in coming weeks.