Barley Futures have tumbled in National Commodity and Derivatives Exchange (NCDEX) on Thursday on news of imposition of 20% special margin on the long side on all running and yet to be launched contracts with effect from Friday, April 27, 2012.
NCDEX May contract has fallen 2.3% to 1668 after gain 3.5% in April till Wednesday while June contract has fallen 2.24% to Rs 1705 after gaining 4.43% in April till Wednesday when it closed at Rs 1744 per quintal.
Speculative buying by traders had pushed Barley prices higher and aided by strong demand from breweries to make beer whose consumption goes up in the summer months. Cattle making industries also use barley as raw materials and restricted supply in spot markets pushed prices in April.
NCDEX May contract has fallen 2.3% to 1668 after gain 3.5% in April till Wednesday while June contract has fallen 2.24% to Rs 1705 after gaining 4.43% in April till Wednesday when it closed at Rs 1744 per quintal.
Speculative buying by traders had pushed Barley prices higher and aided by strong demand from breweries to make beer whose consumption goes up in the summer months. Cattle making industries also use barley as raw materials and restricted supply in spot markets pushed prices in April.
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