The Hindu Business Line : Good response to potato futures

On Friday, April 2006 contracts opened at Rs 688 and ended at Rs 730 for 100 kg on some buying support. May 2006 contracts also moved Rs 50 up to end at Rs 752.

The first trading day on Thursday witnessed high intra-day fluctuations with April contract trading between Rs 612 and Rs 686.80 and May contract trading between Rs 650 and Rs 712. April contract touched the upper circuit filter twice.

Total turnover in all the contracts was Rs 51.42 crore in value term and 70,000 tonnes in quantity on Friday, while total turnover on Thursday was Rs 17.06 crore in value terms and in quantity 25,020 tonnes.

Open interest of all contracts collectively stood at 10,000 tonnes, while the open interest for March and April collectively was 4,920 tonnes on Thursday.

The contract has well received by market participants of various mandis like Vashi, Azadpur, Delhi, Agra, Kanpur, Indore mandi and other prominent mandis.

On Thursday, a total number of 776 trade was done and more than 200 members participated from across 50 cities. Basis variety is 3797 variety of potato and basis market is Ex-Agra cold storage.

Price quote is for 100 kg and trading lot is 30 tonnes.

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