Commodities

Potato futures drops on reduced offtake

PTI New Delhi | Updated on March 09, 2011

Potato prices fell by Rs 7 to Rs 696 per quintal at the futures trade today as speculators offloaded their positions, driven by less offtake in the spot market on subdued demand.

At the Multi Commodity Exchange, potato for delivery in May fell by Rs 7 or 1 per cent to Rs 696 per quintal with an open interest of a single lot. Likewise, March contract also traded lower by Rs 2.70 or 0.37 per cent to Rs 723.40 per quintal with a business turnover of one lot.

Traders attributed the fall in potato prices to offloading of positions by speculators driven by subdued demand in the spot market.

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Published on March 09, 2011
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