Commodities

Potato falls on subdued spot demand

PTI New Delhi | Updated on June 23, 2011

Potato prices fell by Rs 6.10 to Rs 446 per quintal in futures trade today as speculators off-loaded their positions, driven by subdued spot demand.

Adequate stocks in the physical market following increased arrivals from the producing regions also put pressure on potato prices.

At the Multi Commodity Exchange, potato for delivery in August fell by Rs 6.10 or 1.34 per cent to Rs 446 per quintal, with an open interest of 116 lots.

Potato for delivery in September declined by Rs 5.50 or 1.26 per cent to Rs 428.40 per quintal, with a business turnover of 69 lots.

Likewise, prices for delivery in July eased by Rs 4.20 or 0.86 per cent to Rs 483.30 per quintal, with an open interest of 86 lots.

Traders said fall in potato futures prices was mainly due to off-loading of positions by speculators amid increased arrivals from producing region.

Published on June 23, 2011

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