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Potato futures decline on sluggish demand

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Press Trust of India New Delhi

Potato prices lost Rs 5.40, or 0.93 per cent, to Rs 573.40 per quintal in futures market today on sluggish demand in local markets at existing higher levels against increased arrivals. 

At the Multi Commodity Exchange counter, potato for March delivery fell by Rs 5.40, or 0.93 per cent, to Rs 573.40 per quintal, with an open interest of 421 lots.

The potato for delivery in September also declined by Rs 2.70, or 0.61 per cent, to Rs 437.90 per quintal, with an open interest of 1,503 lots.

Similarly, the oil for delivery in October moved down by Rs 29, or 0.81 per cent, to Rs 3,558 per barrel, with an open interest of 3,337 lots.

 

Market analysts said increased arrivals in the physical market, against subdued demand at prevailing higher levels pulled down potato prices at futures trade.

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First Published: Aug 31 2010 | 1:52 PM IST

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