Commodities

Potato weakens on reduced offtake

PTI New Delhi | Updated on April 04, 2011

Traders attributed the fall in potato prices to a weakening trend in the spot markets following reduced offtake by traders against increased arrivals.   -  The Hindu

Potato prices moved down by Rs 4.40 to Rs 580.60 a quintal in futures trade today due to reduced offtake by traders against increased arrivals from the producing belts.

At the Multi Commodity exchange, potato for delivery in May shed Rs 4.40 or 0.75 per cent to Rs 580.60 a quintal, with a business turnover of a single lot.

Similarly, the commodity for delivery in April declined by Rs 3.10 or 0.50 per cent to Rs 612.40 a quintal, with an open interest of just one lot.

Prices for delivery in June lost Rs 2 or 0.35 per cent to Rs 568.80 a quintal, with a business volume of seven lots.

Traders attributed the fall in prices to a weakening trend in the spot markets following reduced offtake by traders against increased arrivals.

Published on April 04, 2011

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