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This is an archive article published on April 15, 2011

Potato futures rises over 2% on spot demand

Potato prices rose by 2.03 per cent to Rs 592.90 per quintal in futures trade.

Potato prices rose by 2.03 per cent to Rs 592.90 per quintal in futures trade as traders enlarged their positions on pick-up in spot demand.

At the Multi Commodity Exchange,potato for delivery in May moved up by Rs 11.80,or 2.03 per cent,to Rs 592.90 per quintal,with a trading volume of 142 lots.

Likewise,its futures prices for delivery in June traded higher by Rs 8.50,or 1.54 per cent,to Rs 562 per quintal,with a business volume of 26 lots.

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The potato for delivery in April increased by Rs 2.10,or 0.33 per cent,to Rs 644.50 per quintal,with an open interest of 55 lots.

Market analysts said increased buying by traders and speculators on pick-up in spot demand mainly led to the rise in potato futures prices.

They said restricted arrivals from producing belts also influenced the trading sentiments to some extent.

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