Potato futures shed 1.25% on sluggish demand

Potato prices declined by 1.25% to Rs 586.20 per quintal in futures market today on sluggish demand in the spot market.

Adequate stocks availability in the market following heavy supplies from producing region also put pressure on the potato prices at futures trade.

At the Multi Commodity Exchange, potato for delivery in April fell by Rs 7.40, or 1.25%, to Rs 586.20 per quintal, with a business turnover of 9 lots.

Similarly, the potato for delivery in March shed Rs 3.90, or 0.63%, to Rs 610.40 per quintal, with a trade volume of 119 lots.

Market analysts said sufficient stocks position following persistent arrivals from producing regions against sluggish demand in the spot market mainly pulled down potato futures prices.