Potato remain weak on lower demand

Increased supplies also kept prices down

Potato prices today fell further by Rs 5.30 to Rs 1,122 per quintal as speculators offloaded their positions, driven by lower spot demand.

Increased supplies in the physical markets from the major growing belts in UP, Punjab, MP and West Bengal also put pressure on potato.

At the MCX, potato for delivery in June declined by Rs 5.30, or 0.49%, to Rs 1,071.10 per quintal in a business turnover of seven lots.

The potato for delivery in July shed Rs 4.50, or 0.40%, to Rs 1,122 per quintal in four lots.

Marketmen said persistent fall in potato futures was mostly due to offloading of positions by speculators, driven by lower in demand in spot markets against increased supplies.