Potato sheds 0.71% on adequate supply

Speculators created positions pushing prices higher

Amid adequate stocks in the market following higher arrivals from producing belts, potato prices fell by 0.71% to Rs 1,156 per quintal in futures trade today as speculators reduced their positions.

At the Multi Commodity Exchange, potato for delivery in July declined by Rs 8.30, or 0.71%, to Rs 1,156 per quintal, with a business turnover of 10 lots.

The August contract traded lower by Rs 9, or 0.69%, to Rs 1,301 per quintal in 32 lots.

Market analysts said adequate supplies following increased arrivals from producing regions in the physical market against lower demand mainly led to a decline in potato prices at futures market.