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Potato futures decline on reduced offtake in spot market

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Press Trust of India New Delhi

Potato prices fell by Rs 2.30, or 0.50 per cent, at Rs 454.30 per quintal in futures trade today on the back of reduced offtake by speculators and stockists.

Adequate stocks position following increased arrivals from the producing regions also put pressure on the prices.

At the Multi Commodity Exchange counter, potato for delivery in September contract shed Rs 2.30, or 0.50 per cent, to Rs 454.30 per quintal, with a trading volume of 100 lots.

The July-month contract eased by Rs 2.10, or 0.47 per cent, to Rs 448.50 per quintal, with a business volume of 23 lots.

Similarly, the commodity for August delivery traded lower by Rs 1.80, or 0.40 per cent, to Rs 452.90 per quintal, with an open interest of 112 lots.

 

Marketmen said increased supply from Agra and Haldwani, against reduced offtake by speculators and stockists mainly led to a fall in potato prices at futures market.

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First Published: Jul 13 2010 | 1:51 PM IST

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