India potato futures weaken on profit booking

Last Updated : October 28, 2011 12:44MUMBAI (Commodity Online):India Potato futures that witnessed a rally in the beginning of the week on spot market demand and restricted supplies from producing regions has weakened on Friday morning trade on profit booking at higher levels.

Potato March futures at National Commodity and Derivatives Exchange of India (NCDEX) has fallen 1.59 % on Friday to Rs 626.60 as against previous closing price of Rs 636.30. The contract had climbed 5% this week till Thursday. At Multi-Commodity Exchange of India MCX Potato March futures is down 1.75% at Rs 675.10. The contract gained 4.42% till Thursday this week at Rs 685.40 per quintal.

Analysts said that restricted supplies and speculative activity continues to provide firm support to potato futures.

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