Business Standard

Potato loses 1% on lower offtake

Image

Press Trust of India New Delhi

Potato futures prices fell by Rs 5 to Rs 432 per quintal today as speculators offloaded their positions, due to reduced offtake in the spot market on subdued demand.

At the Multi Commodity exchange, potato for October delivery fell by Rs 5, or 1.14%, to Rs 432 per quintal, with a business turnover of 289 lots.

September delivery also moved down by Rs 4.60, or 1.05%, to Rs 435 per quintal, with a trade volume of 250 lots.

Fall in potato futures prices was mostly due to offloading of positions by speculators, driven by subdued demand in the spot market against adequate supply.

 

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

First Published: Aug 11 2011 | 2:32 PM IST

Explore News