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Potato prices decline on reduced offtake

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Press Trust of India New Delhi

Potato prices fell by Rs 2, or 0.40 per cent, at Rs 486 per quintal, in futures trade today on the back of reduced offtake by speculators and stockists.

Adequate stocks position followed by increased arrivals from the producing region also put pressure on the prices.

At the Multi Commodity Exchange, potato for delivery in August contract shed Rs 2, or 0.40 per cent, to Rs 486 per quintal, with a trading volume of 63 lots.

July contract eased by Rs 1.60, or 0.33 per cent, to Rs 479.20 per quintal, with a business volume of 137 lots.

Similarly, the commodity for September-month delivery traded lower by 90 paise, or 0.18 per cent, to Rs 491.30 per quintal, with an open interest of 94 lots.

 

Marketmen said increased supplies from Haldwani and Shimla against sluggish demand mainly led to a fall in potato prices at futures market.

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First Published: Jul 01 2010 | 4:17 PM IST

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