Potato weakens 1.6% on subdued demand

Potato prices fell by Rs 18.10 to Rs 1,125 per quintal in futures trade today as speculators offloading their positions driven by subdued demand in the spot market.

Increased supplies in the physical market on persistent arrivals from producing regions against lower demand led to the fall in potato prices.

At the MCX, the July delivery fell by Rs 18.10, or 1.58%, to Rs 1,125 per quintal, with business volume of 42 lots.

The June delivery slipped by Rs 17.10, or 1.17%, to Rs 1,065.60 per quintal with trading volume of 58 lots.

Marketmen said fall in potato prices was mostly due to offloading of positions by speculators, driven by subdued demand in the spot market.