Barley prices fell in Jaipur due to speculation on import of the grain from Argentina, following concerns over quality in the domestic market. Sluggish demand from malt industries also created pressure on barley prices.
The December contract of barley was up 1%, owing to improved demand from poultry feed industry. The most active December contract was up 0.99%. A decline in stocks of barley at the exchange accredited warehouses also supported prices on the NCDEX. Stocks declined because traders are withdrawing them to avail higher prices in the spot market.
Barley prices fell in Jaipur because concerns about the quality of domestic stocks hit demand from malt manufacturing companies. Speculations of barley imports from Argentina and favourable weather in key growing areas also weighed on prices.
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The global downward trends in grain prices have affected barley significantly. This season barley prices were at a six-year low. At the same time, the world barley trade is rather weak. In July-March 2016/17, global barley exports lag 8% behind last season. The main drop is seen in the European market. Having boosted exports, Ukraine managed to just partially offset the fall in European sales. The situation will change in 2017/18 season: competition among major exporters is expected to weaken. Overall, the world’s production will decrease 7%.
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