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Potato falls in futures trade on fresh selling

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Press Trust of India New Delhi

Potato futures prices declined by Rs 3 to Rs 450.20 per quintal in futures trade today on speculators offloading a part of their positions.

At the Multi Commodity Exchange, potato for delivery in August declined by Rs 3, or 0.66%, to Rs 450.20 per quintal, with a business turnover of 19 lots.

The July contract shed Rs 1.80, or 0.37%, to Rs 484.60 per quintal, with an open interest of 17 lots.

Traders said the fall in potato prices was mostly due to offloading of positions by speculators, following weak trend at spot market on sluggish demand.

Adequate stocks position in the physical market also put pressure on the potato prices, they added.

 

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First Published: Jun 30 2011 | 1:08 PM IST

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