Potato down 2% on adequate supply

Expectations of lower output after poor rainfall limits losses

Potato prices declined by over 2% to Rs 1,287 per quintal in futures trade today as traders offloaded their positions largely on increased arrivals from producing belts.

At the Multi Commodity Exchange, potato for delivery in September fell by Rs 28.60, or 2.17%, to Rs 1,287 per quintal, with a business turnover of 59 lots.

October potato lost Rs 29.30, or 2.05%, to Rs 1,400 per quintal in 45 lots.

Marketmen said traders offloading their positions after increased arrivals from producing belts led to the fall in potato futures prices. However, expectations of lower output due to poor rainfall in the producing regions limited the losses.