Potato gains 1.11% on spot demand

Potato prices rose 1.11% to Rs 1,420.40 per quintal in futures market today as traders created fresh positions on hopes of a rise in demand during festive season.

Restricted arrivals from producing belts further fuelled the uptrend.

At the Multi Commodity Exchange, the September contract for potato rose by Rs 15.60, or 1.11%, to Rs 1,420.40 per quintal in business turnover of 21 lots.

The August contract also gained Rs 13.60, or 1.04%, to Rs 1,319.90 per quintal in 30 lots.

Traders said hopes that demand may pick up for the festive season influenced potato prices at futures trade.

Besides, restricted supplies from producing regions also supported the upside, they said.