Potato hits lower limit on profit taking

Potato prices fell sharply by another 4 per cent to hit lower limit at Rs 626.60 per quintal in futures trade today, as speculators engaged in booking profits after recent gains amid weak trend at spot markets.

All the three running contracts were down by 4 per cent to hit lower circuits.

At the Multi Commodity Exchange platform, potato for delivery in March contract declined by Rs 26.60, or four per cent, to Rs 637.50 per quintal, with a business volume of 1,361 lots.

The potato for delivery in April month contract traded lower by Rs 26, or 4 per cent, to Rs 637.50 per quintal, and clocked a volume of 1,361 lots.

Likewise, October month delivery plunged by Rs 25.80, or four per cent, to Rs 619.60 per quintal in 2,831 lots.

Traders said profit-booking by speculators at existing higher levels and weakening trend at spot markets, continued to weigh on potato futures prices.