Potato down 1.1% on supply pressure

Potato for delivery in March lost 0.89%

Potato futures extended losses for the third day by losing 1.15% to Rs 862.50 per quintal in futures trade today as speculators offloaded positions, driven by increased supplies from producing regions.

 

At the Multi Commodity Exchange, potato for delivery in far-month April fell further by Rs 10, or 1.15%, to Rs 862.50 per quintal in business turnover of 5 lots.

 

Potato for delivery in March lost Rs 8, or 0.89%, to Rs 887.50 per quintal in 28 lots.

 

Analysts said offloading of positions by speculators, driven by increased supplies from growing regions, mainly kept pressure on potato prices at futures trade.