Potato down 2% on reduced offtake

Commodity for delivery in April, traded lower by 1.8%

Potato futures prices declined 2.06% to Rs 1,158 per quintal today as speculators offloaded positions on weak trend in the spot market.

At the Multi Commodity Exchange, potato for March delivery fell by Rs 24.40, or 2.06%, to Rs 1,158 per quintal, with a business volume of 68 lots.

For delivery in April, potato traded lower by Rs 21.70, or 1.81%, to Rs 1,173 per quintal, with a trade volume of 31 lots.

Marketmen said fall in potato prices was mostly due to offloading of positions by speculators, driven by subdued demand in the spot market amid increased supplies in the physical market.