Potato down 2% on adequate stocks
Low demand contributes to downtrend
Potato futures prices today fell further by Rs 24.20 to Rs 1,167.30 per quintal, as speculators offloaded their positions due to less offtake in the spot market.
Adequate stocks position following increased arrivals from the producing regions weighed on the prices.
At the Multi Commodity exchange, potato prices for October delivery fell by Rs 24.20, or 2.03%, to Rs 1,167.30 per quintal, with a trade volume of five lots.
September potato declined by Rs 6.50, or 0.56%, to Rs 1,135 per quintal, with a business turnover of 63 lots.
Continued fall in potato prices was due to offloading of positions by speculators against lower demand in the spot market, traders said.