Potato rises over 3% on physical demand

Potato prices rose by Rs 14.20, or 3.22 per cent, to Rs 455.40 per quintal in futures trade today, as traders enlarged their positions on pick up in physical market demand.

Restricted supply from producing regions also supported the uptrend.

At the Multi Commodity Exchange platform, potato for October contract rose Rs 14.20, or 3.22 per cent, to Rs 455.40 per quintal, with a trading volume of 260 lots.

Potato for September-month contract traded higher by Rs 12.60, or 2.99 per cent, to Rs 434.20 per quintal, with a business volume of 580 lots, while March delivery went up by 6.80, or 1.09 per cent, to Rs 584.90 per quintal, with a business turnover of 94 lots.

Marketmen said increased buying by traders and speculators on pick up in demand in the spot market mainly led to a rise in potato prices at futures trade.

They said restricted arrivals from producing belts in Agra and Haldwani also influenced the trading sentiment to some extent.