Amidst lower offtake by malting companies and exporters against comfortable stock position in physical Market has kept the barley market silent from last one month.As per market sources, most of the malting companies were sidelined from last one month as most of the companies are sitting with hefty inventories. In Rajasthan mandies, the daily arrivals of barley are at around 2000-3000 bags with the price range of Rs 1080-1100 per quintal (exclusive of all taxes).
Moreover, lower prices of other feed items such Jowar ( Rs 880 per quintal ) and Bajra ( Rs 725 per quintal) have kept the feed demand silent.Sturdy sowing progress of barley crop during the current rabi season has also maintained bearish sentiments in spot market . As per latest data released by Department of Agriculture, the total sowing acreage of barley crop was at 1.23 lakh hectares against 0.30 lakh hectares.
Reported last year in same period. Strong sowing has been seen in states such as Rajasthan and Madhya Pradesh , swelled by 40% and 33% respectively.Therefore, the prices of barley are likely to remain under check in the coming days.
No comments:
Post a Comment