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Potato rises on firm spot demand

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Press Trust of India New Delhi

Potato prices rose by Rs 7.30, or 1.64 per cent, to Rs 451.20 per quintal in futures trade today as traders enlarged their positions on pick up in spot market demand.

Restricted supply from producing regions also supported the uptrend in futures trade.

At the Multi Commodity Exchange platform, potato for October contract rose by Rs 7.30, or 1.64 per cent, to Rs 451.20 per quintal, with a trading volume of 430 lots.

Potato for September contract traded higher by Rs 3.70, or 0.88 per cent to Rs 424.50 per quintal, with a business volume of 345 lots, while March delivery got up by Rs 4.10 or 0.72 per cent to Rs 570 per quintal, with an open interest of eight lots.

 

Marketmen said increased buying by traders and speculators on pick up in demand in the spot market mainly led to a rise in potato prices at futures trade.

They said restricted arrivals from producing belts in Agra and Haldwani also influenced the trading sentiment to some extent.

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First Published: Sep 06 2010 | 1:10 PM IST

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