Potato up 1.6% on rising demand, tight supply

Commodity for delivery in March gained 1.3%

Supported by rising demand in the spot markets and tight supplies from producing regions, potato prices rose 1.62% to Rs 984.90 per quintal in futures trade today as speculators created positions.

At the Multi Commodity Exchange, potato for delivery in far-month April rose by Rs 15.70, or 1.62%, to Rs 984.90 per quintal in business turnover of 32 lots.

Likewise, the potato for delivery in March gained Rs 13.20, or 1.34%, to Rs 995 per quintal in 178 lots.

Analysts said besides rising demand in the spot market against tight supplies following less arrivals from producing region mainly pushed up potato prices at futures trade.