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Potato prices plunged by 4% to hit lower circuit at Rs 1,389.40 per quintal in futures trade today as speculators reduced positions amidst adequate stocks in the physical markets following fresh arrivals from producing regions.
At the Multi Commodity Exchange, potato for delivery in July fell sharply by Rs 57.80, or 3.99%, to hit lower circuits at Rs 1,389.40 per quintal in business turnover of 116 lots.
On the similar lines, potato for delivery in June month contracts lost Rs 49.20, or 3.57%, to Rs 1,330 per quintal in 122 lots.
Analysts attributed the sharp fall in potato futures to heavy stocks position following fresh arrivals from producing belts in Uttar Pradesh and Punjab.
