Potato declines on higher supply, low demand

March, April contracts shed 0.19% and 1.01% respectively

 

Potato prices declined by 1.01 per cent to Rs 1,164 per quintal in futures trading today as speculators offloaded their positions due to low demand in the spot market against higher supplies from producing regions.
    
At the Multi Commodity Exchange, potato for delivery in April declined by Rs 11.90, or 1.01 per cent, to Rs 1,164 per quintal in a business turnover of 299 lots.
    
The March contract traded lower by Rs 2.10, or 0.19 per cent, to Rs 1,118.80 per quintal in 365 lots.
    
Market analysts said speculators offloaded their positions due to low demand in the spot market against higher supplies from producing regions that kept pressure on potato prices at futures trade.