Potato dips 2.23% on increased supplies

Potato prices dipped by 2.23% to Rs 890.40 per quintal in futures market today as speculators offloaded their positions following lower demand in the spot market.

Increased supplies in the physical market following increased arrivals from producing regions also put pressure on the potato futures prices.

At the Multi Commodity Exchange, the May contract fell by Rs 20.30, or 2.23%, to Rs 890.40 per quintal in business turnover of 475 lots.

The March contract lost Rs 13.70, or 1.64%, to Rs 820.60 per quintal in 696 lots.

Traders attributed the sharp fall in potato futures to increased increased supplies against lower demand.