Potato dips 1.71% on increased supply

Low spot demand influences prices

Potato prices dipped 1.71% to Rs 1,331 per quintal in futures market today on speculators' selling, driven by a weak spot market trend following increased supplies from producing belts.

At the Multi Commodity Exchange, potato for September dipped Rs 23.20, or 1.71%, to Rs 1,331 per quintal, with a business turnover of 29 lots.

October potato plunged by Rs 23.50, or 1.60%, to Rs 1,449 per quintal in 34 lots.

Marketmen said lower demand against increased supplies from producing belts in the spot market pulled down potato prices at futures trade.