Thursday, 29 August 2013

MCX Potato extends losses; falls for second day on low demand

Potato prices extended losses, falling for the second day on Today at the Multi Commodity Exchange (MCX) as traders offloaded their positions due to low demand in the domestic markets in the midst of adequate stocks. Potato futures for September 2013 contract, at MCX, were trading at Rs 781 per 100 kg, down by 0.26 per cent after opening at Rs. 788 against the previous closing price of Rs. 783. It touched the intra-day low of Rs. 780 till the trading. Sentiment weakened further as a result of easy availability in the physical markets following fresh arrivals from producing regions in UP, Punjab, MP and West Bengal. The major potato markets in UP are Agra, Hathras, Kanpur, Meerut, Farrukkhabad; Jalandhar, Ludhiana, Phul and Patiala in Punjab; Ujjain, Indore and Dewas in MP and Hoogly, Burdwan and Howrah in West Bengal.

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