Potato down 0.7% on sluggish demand

Commodity for delivery in March declined by 0.39%

Amid subdued demand in the spot markets agaisnt higher supplies from producing belts, potato prices fell by 0.70% to Rs 1,155 per quintal in futures trade today.

At the Multi Commodity Exchange, potato for delivery in April fell by Rs 8.10, or 0.70% to Rs 1,155 per quintal in business turnover of 51 lots.

Potato for delivery in March also declined by Rs 4.40, or 0.39% to Rs 1,110.80 per quintal in 100 lots.

Market analysts said offloading of positions by speculators triggered by sluggish demand in the spot market against increased supplies from producing regions that kept pressure on potato prices at futures trade.