Potato extends losses on profit-booking
Wednesday, 6 October 2010
NEW DELHI, Oct 5 (PTI): Potato prices fell further by Rs 7.60 to Rs 587 per quintal in futures trade today, on profit-booking and subdued demand at the spot market.
Adequate stock positions at spot markets following increased arrivals from producing regions also put pressure on the potato prices at futures market.
At the Multi Commodity Exchange, potato for delivery in March month contract declined by Rs 7.60, or 1.27 per cent to Rs 587 per quintal, with trading volume of 296 lots.
Traders said speculators booking profits at existing higher levels and weakening trend at the spot market led to the decline in potato prices at futures trade.
Adequate stock positions at spot markets following increased arrivals from producing regions also put pressure on the potato prices at futures market.
At the Multi Commodity Exchange, potato for delivery in March month contract declined by Rs 7.60, or 1.27 per cent to Rs 587 per quintal, with trading volume of 296 lots.
Traders said speculators booking profits at existing higher levels and weakening trend at the spot market led to the decline in potato prices at futures trade.