Potato futures decline on slow demand

Potato futures prices fell by Rs 7.40 to Rs 643 per quintal today, as traders reduced their holdings at the prevailing increased levels on account of weakening trend at spot market.

At the Multi Commodity Exchange, potato for delivery in May fell by Rs 7.40, or 1.13%, to Rs 643 per quintal, with trading volume of 14 lots, while April contract declined by Rs 5.20, or 0.83% to Rs 614.40 per quintal, with a business volume of eight lots.

The potato in March eased by Rs 4.20, or 0.65%, to Rs 636.50 per quintal, with a trade volume of 111 lots.

Traders said potato futures prices fell as speculators offloaded their positions influenced by  increased arrivals from producing regions against subdued demand in spot markets.