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Potato down 4%, hits lower circuit on weak demand

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Press Trust of India New Delhi

Continuing it yesterday's slide, potato futures prices fell by Rs 15.20, or 4 per cent, to hit a lower circuit, at Rs 364.80 per 100 kg today, as traders reduced their positions, driven by weak spot demand amid adequate supplies.

All the three running contracts were trading at lower circuits after prices fell by 4 per cent.

At the National Commodity and Derivative Exchange counter, potato for October delivery fell by Rs 15.20, or 4.00 per cent to hit the lower limit at Rs 364.80 per 100 kg, with an open interest of 106 lots.

The potato for delivery in August and September month contracts also fell by Rs 15 and Rs 15.10, or 4 per cent, at Rs 360.30 and Rs 361.80 per 100 kg, with a trading volume of 84 and 161 lots, respectively.

 

Traders said sluggish demand in the spot market, against adequate stocks followed by increased arrivals, continued to put pressure on the potato prices in futures trade here.

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First Published: Jul 27 2010 | 2:38 PM IST

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