Potato declines 3% on profit-taking

Potato futures prices declined by Rs 19.20, or 3.00 per cent, to Rs 620.90 per quintal today after speculators booked profits amid weak trend in spot markets on subdued demand. 

Adequate stock positions at spot markets following increased arrivals from producing regions also put pressure on the potato prices at futures market.

At the Multi Commodity Exchange counter, potato for delivery in March-month contract declined by Rs 19.20, or three per cent, to Rs 620.90 per quintal, with a trading volume of 905 lots.

The potato for delivery in April month contract traded lower by Rs 19.10, or three per cent to Rs 617.70 per quintal in 189 lots, while October-month delivery eased by Rs 10.40, or 1.76 per cent to Rs 578.80 per quintal, with a trading volume of 1,110 lots.

 

Traders said speculators booking profits at existing higher levels and weakening trend at the spot markets, led to a fall in potato prices at futures trade.