Potato declines on ample supply

Potato prices fell by Rs 6.20 to Rs 481 per quintal in futures trade today as speculators booked profit at higher levels driven by sluggish demand in the domestic market. Adequate stocks position followed by increased arrivals from the producing regions also put pressure on the prices.

At the Multi Commodity Exchange, potato for August delivery shed by Rs 6.20, or 1.27%, to Rs 481 a quintal with a trading volume of 47 lots. The potato for October delivery eased by Rs 5.80, or 1.34%, to Rs 425.20 per quintal, with an open interest of 164 lots.

The September contract lost Rs 2.40, or 0.54%, to Rs 434.80 per quintal, with a business volume of 314 lots. 

 

Market analysts said fall in potato futures prices was mostly due to offloading of positions by speculators, driven by subdued demand in spot market against adequate supply.