Potato futures recovers on spot demand

Potato futures prices recovered by Rs 3.90 to Rs 426.10 per quintal today as traders created fresh positions on pick-up in spot demand.   

Less arrivals in the physical market also supported the uptrend. 

At the Multi Commodity Exchange, potato for September delivery rose by Rs 3.90, or 0.92%, to Rs 426.10 per quintal, with a business turnover of 282 lots.

Likewise, the potato for August delivery gained Rs 2.80, or 0.61%, to Rs 459 per quintal, with a trade volume of 111 lots.

Market analysts said fresh buying by speculators, supported by a firming trend at the spot market on pick-up in demand, mainly led to the rise in potato futures prices.