Potato weakens 2% on subdued demand

Persistent arrivals from producing regions amid lower demand leads to fall in prices

Potato prices fell by Rs 24.50 to Rs 1,169 per quintal in futures trade today as speculators offloaded their positions driven by subdued spot market demand.

Increased supplies in the physical market following persistent arrivals from producing regions against lower demand led to the fall in potato prices.

At the Multi Commodity Exchange, potato for July delivery fell by Rs 24.50, or 2.05%, to Rs 1,169 per quintal, with business volume of 28 lots.

The August contract slipped by Rs 20.60, or 1.55%, to Rs 1,308.50 per quintal, with a trading volume of 12 lots.

Marketmen said fall in potato prices was mostly due to offloading of positions by speculators, driven by subdued demand in the spot market.