Potato futures rise on spot demand
Potato prices rose by Rs 5.10 to Rs 493.50 per quintal in futures trade today as speculators created fresh positions, driven by a pick-up in spot market demand due to the ongoing festive season.
At the Multi Commodity Exchange, potato for delivery in October rose by Rs 5.10, or 1.04%, to Rs 493.50 per quintal, with a business turnover of 168 lots.
Likewise, potato for September delivery edged up by Rs 1.90, or 0.40%, to Rs 476.50 per quintal, with an open interest for 12 lots.
Market analysts said fresh buying by traders on the back of a pick-up in spot market demand mainly led to the rise in potato prices in futures trade.
They said restricted arrivals from producing belts in Agra and Haldwani also influenced the trading sentiment to some extent.