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Potatoes weaken on sluggish demand

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Press Trust of India New Delhi

Potato prices shed 0.24% to Rs 399.50 per quintal in futures trade today as traders offloaded their positions on the back of a weak trend in the spot market on subdued demand.

Adequate stock availability amid increased arrivals from producing regions also put pressure on potato prices.

At the Multi Commodity Exchange, October potato declined by Rs 1.10, or 0.27%, to Rs 399.50 per quintal, with a business turnover of 41 lots.

The March contract weakened by Rs 1.50, or 0.24%, to Rs 628.60 per quintal in two lots.

Market analysts said a weak trend in the spot market on subdued demand and the adequate stocks position mainly led to the decline in potato futures prices.

 

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First Published: Oct 05 2011 | 11:26 AM IST

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