Potato down 1.93% on adequate supply

Potato prices fell by 1.93% to Rs 1,370 per quintal in the futures market today as traders trimmed positions, driven by lower demand in the spot market.

Sentiment turned bearish on easy availability in the physical markets, following increased arrivals from producing regions such as UP, Punjab, MP and West Bengal.

At the Multi Commodity Exchange, potato for delivery in October fell Rs 27, or 1.93%, to Rs 1,370 per quintal, with a business turnover of 39 lots.

September potato also moved down by Rs 24.60, or 1.89%, to Rs 1,276.60 per quintal in 33 lots.

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