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Potato futures slip further on profit bookiing

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Press Trust of India New Delhi

Potato futures prices fell further for the second straight day by losing Rs 1.10 to Rs 608 per quintal today, as speculators booked profits, driven by a fall in demand in the spot market.

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

At the Multi Commodity Exchange counter, potato for May delivery declined by Rs 1.10, or 0.18 per cent, to Rs 608.00 per quintal, with a trade volume of just one lot.

The potato for delivery in April also eased by Rs 0.70, or 0.12 per cent, to Rs 591.40 per quintal, with a trade volume of just one lot.

 

Traders said profit booking by speculators and a weakening trend in the spot market on subdued demand, mainly led to decline in potato futures prices.

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First Published: Oct 28 2010 | 3:26 PM IST

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