Potato down 0.5% on increased supply

Sluggish spot demand contributes to downtrend

Potato prices fell by Rs 5.80 to Rs 1,140 per quintal in futures trade today as traders engaged in offloading positions due to sluggish spot market demand against increased arrivals from producing belts.

At the Multi Commodity Exchange, potato for delivery in October fell by Rs 5.80, or 0.51%, to Rs 1,140 per quintal, with a business turnover of nine lots.

September potato traded lower by 70 paise, or 0.7%, to Rs 1,010.30 per quintal, with a business turnover of 26 lots.

Marketmen said increased arrivals from producing belts against subdued spot market demand mainly kept potato futures weak.