Potato weakens on adequate supply

Low spot market demand triggers downtrend

Potato prices weakened by 0.73% to Rs 705.70 per quintal in futures trading today.

Adequate supplies in the physical markets following increased arrivals from producing regions also put pressure on potato.

At the Multi Commodity Exchange, the April contract rose by Rs 5.20, or 0.73% to Rs 705.70 per quintal with an open interest of 26 lots.

Likewise. the March contract weakened by Rs 1.80, or 0.24% to Rs 751.40 per quintal in 75 lots.

Market analysts said speculators offloaded their positions, driven by low spot market demand led to decline in potato futures.