Commodities

Potato futures recovers on fresh buying support

PTI New Delhi | Updated on May 12, 2011

Potato prices recovered by Rs 8.20 to Rs 504 per quintal at the futures trade today as speculators created fresh positions on the back of pick-up in demand against less arrivals.

At the Multi Commodity Exchange, potato for delivery in July gained Rs 8.20 or 1.65 per cent to Rs 504 per quintal with a trading volume of 276 lots.

Similarly, June contract rose Rs 6.60 or 1.23 per cent to Rs 542 per quintal, with a business turnover of 558 lot and May contract also rose Rs 2.30 or 0.39 per cent to Rs 590 per quintal with a trade volume of 653 lots.

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

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Published on May 12, 2011
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