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Potato falls 1.8% on profit-booking

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Press Trust of India New Delhi

Potato prices fell by Rs 19.60 to 1,075 per quintal in futures trade today as traders booked profits on the back of poor domestic demand along with higher arrivals from the fresh crop.

Sentiment weakened further as speculators offloaded their positions driven by subdued demand in the spot market.

At the Multi Commodity Exchange, the May delivery fell by Rs 19.60, or 1.79%, to Rs 1,075 per quintal with a business volume of 307 lots.

The April delivery declined by Rs 5.10, or 0.49%, to Rs 1,015 per quintal, with a business volume of nine lots.

Marketmen said increased supplies in the physical market following persistent arrivals from producing region against lower demand in the spot market mainly put pressure on the potato futures prices.

 

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First Published: Apr 12 2012 | 1:00 PM IST

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