Potato declines on increased supplies

Potato prices declined by Rs 4.20 to Rs 715 per quintal in futures trading today on increased arrivals in the spot market against subdued demand.

At the Multi Commodity Exchange, potato for delivery in May contract declined by Rs 4.20, or 0.58 per cent, to Rs 715 per quintal, with a business volume of a single lot.

The potato for delivery in March contract also traded lower by Rs 1.10, or 0.16 per cent, to Rs 696.10 per quintal, with a business volume of one lot. 

Analysts said increased supplies in the spot market against sluggish demand mainly led to the decline in potato futures prices.