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Potato weakens on profit-booking

August, September contracts shed about 0.15% on lower demand and adequate inventory

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Press Trust of India New Delhi

Potato futures prices today fell by 0.17% to Rs 1,418.10 per quintal as traders booked profits at prevailing higher levels, due to subdued spot demand.

Adequate stocks position in the physical markets also put pressure on potato futures prices.

At the Multi Commodity Exchange, potato for delivery in September declined by Rs 2.40, or 0.17% to Rs 1,418.10 per quintal in business turnover of eight lots.

August potato shed Rs 2, or 0.15%, to Rs 1,338 per quintal in six lots.

Market analysts said the weakness in potato futures was mostly due to profit booking by the traders on lower demand against adequate stocks.

 

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First Published: Jul 25 2012 | 12:31 PM IST

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