Potato down 0.76% on adequate supply

Low demand contributes to downtrend

Potato prices declined by 0.76% to Rs 1,158 per quintal in futures trade today on adequate stocks position, following increased arrivals from producing belts against lower demand.

At the Multi Commodity Exchange, potato for delivery in September fell by Rs 8.90, or 0.76%, to Rs 1,158 per quintal, with a business turnover of 20 lots.

October potato shed Rs 2.40, or 0.20%, to Rs 1,223 per quintal in 12 lots.

Marketmen said adequate stocks in the market following increased arrivals from producing belts amid lower demand in the spot market led to decline in potato futures.