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Potato futures remain weak on reduced offtake

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Press Trust of India New Delhi

Potato prices fell further by Rs 7, or 1.54 per cent, to Rs 446.20 per quintal in futures market today owing to slack demand at existing higher levels against adequate stocks.

At the Multi-Commodity Exchange counter, potato for October fell by Rs 7, or 1.54 per cent, to Rs 446.20 per quintal, with an open interest of 1,809 lots. It had lost by Rs 6.70 per quintal in the previous session.

The potato for delivery in September-month also declined by Rs 2.80, or 0.66 per cent, to Rs 422.10 per quintal, with an open interest of 1,301 lots.

Traders said weakening trend at the spot markets following fall in demand at existing higher levels against increased arrivals from producing regions mainly led to a fall in potato prices at futures trade.

 

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First Published: Sep 03 2010 | 2:18 PM IST

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