Potato down 1.8% on reduced offtake

Potato prices fell by Rs 7.20 to Rs 378.50 per quintal in futures trade today as speculators offloaded their positions, driven by reduced offtake in the spot market.

Fresh crop arrival also put pressure on the potato futures prices.

At the Multi Commodity exchange, October potato fell by Rs 7.20, or 1.86%, to Rs 378.50 per quintal, with a business volume of 76 lots.

The March contract also eased by Rs 2.40, or 0.37 per cent, to Rs 638 per quintal, with a trade turnover of five lots.

The fall in potato prices was mostly due to off-loading of positions by speculators, driven by subdued demand in the spot market, traders said.