Business Standard

Potato futures recovers on spot demand

Image

Press Trust of India New Delhi

Potato futures prices recovered by Rs 3.90 to Rs 426.10 per quintal today as traders created fresh positions on pick-up in spot demand.   

Less arrivals in the physical market also supported the uptrend. 

At the Multi Commodity Exchange, potato for September delivery rose by Rs 3.90, or 0.92%, to Rs 426.10 per quintal, with a business turnover of 282 lots.

Likewise, the potato for August delivery gained Rs 2.80, or 0.61%, to Rs 459 per quintal, with a trade volume of 111 lots.

Market analysts said fresh buying by speculators, supported by a firming trend at the spot market on pick-up in demand, mainly led to the rise in potato futures prices.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 03 2011 | 2:17 PM IST

Explore News