The Hindu Business Line : MCX delivers 8,280 t potato in Sept contract

Our Bureau Mumbai, Sept 25 Multi Commodity Exchange reported delivery of 8,280 tonnes in the September Agra Potato contract that expired on September 14, according to a MCX press release.

The settlement rate (DDR) of the potato Agra contract was Rs 620.40 per quintal.

Agra potato accounts for 40 per cent of the total country’s potato crop estimated at around 26-27 million tonnes annually.

Storing produce in an exchange certified warehouse or cold storage allows one to avail of bank credit against warehouse receipts at rates of interest much cheaper than those charged by other sources. Farmers can avail of such loans at 2-3 per cent below banks’ prime lending rates.

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