Agri Business

Potato up on rising spot market demand

PTI New Delhi | Updated on January 11, 2011 Published on January 11, 2011

RESTRICTED ARRIVALS: Market analysts said increased buying by traders and speculators on pick-up in demand in the spot market led to the rise in prices at futures trade. -- Akhilesh Kumar   -  The Hindu

Potato futures prices rose by Rs 20.70 to Rs 711.10 a quintal in futures trade on Tuesday, as traders enlarged their positions on pick up in spot market demand.

Restricted supply from the producing regions also supported the uptrend. At the Multi Commodity Exchange counter, potato for delivery in May rose by Rs 20.70 or three per cent, to Rs 711.10 a quintal, with business turnover of 35 lots.

Potato for delivery in March traded higher by Rs 20.30 or 2.99 per cent, to Rs 698.60 a quintal, with an open interest of 1,272 lots.

The commodity for April-month delivery gained Rs 19.60 or 2.99 per cent to Rs 674.20 a quintal, with a business turnover of 334 lots.

Market analysts said increased buying by traders and speculators on pick-up in demand in the spot market led to the rise in prices at futures trade.

Restricted arrivals from the producing belts in Agra and Haldwani also influenced the trading sentiment to some extent, they added.

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Published on January 11, 2011
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