Commodities

Potato futures recover on fresh buying support

PTI New Delhi | Updated on May 10, 2011 Published on May 10, 2011

potato

Potato prices recovered by Rs 3.40 to Rs 563 a quintal in futures trade on Tuesday as speculators created fresh positions on the back of pick-up in demand against lesser arrivals.

At the Multi Commodity Exchange, potato for delivery in June recovered by Rs 3.40, or 0.60 per cent to Rs 563 a quintal, with an open interest of 72 lots.

Similarly, the potato for delivery in July rose by Rs 3.20, or 0.62 per cent to Rs 512 a quintal, with a business turnover of 28 lots.

The potato for May delivery gained Rs 1.80, or 0.29 per cent to Rs 615.80 a quintal, with a trade volume of 61 lots.

Traders said fresh buying by speculators on hopes of pick-up in spot markets demand led to rise in potato futures prices. They added that lesser arrivals in the physical market also supported the uptrend.

Published on May 10, 2011
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