Potato up by 2% on strong demand, restricted supply

Increased buying by speculators on pick-up in spot market demand influenced prices

Potato prices rose by 1.97% to Rs 735 per quintal in futures trade today as speculators enlarged their positions on a firming spot market trend amid restricted supplies from the major producing regions.

 

At the Multi Commodity Exchange, potato for delivery in September rose by Rs 14.20, or 1.97%, to Rs 735 per quintal, with trading volume of 121 lots.

 

The potato for delivery in August also moved up by Rs 8.50, or 1.12%, to Rs 762 per quintal with a trade volume of 58 lots.

 

Marketmen said increased buying by speculators on pick-up in spot market demand and tight supplies from major producing belts mainly led to rise in potato prices at futures trade.