Spot Market Update: Barley Sees Stockists Buying

Good demand from stockists is being witnessed in Barely even as supplies pace on at the start of the arrival season. The government hiked the MSP for barley by 6.4% (from Rs 1,325 per quintal to Rs 1,410 per quintal). Prices dropped initially after this but the scenario seems to have turned around now as traders are assessing the size of the current harvest. Spot prices are currently lingering at Rs 1475 per quintal in Jaipur, up 0.20% on the day. Arrivals are likely to increase in coming weeks.