Potato down on reduced offtake in spot market

Potato prices fell by Rs 14.30 to Rs 461.40 per quintal in futures trade today as speculators offloaded their positions, driven by less offtake in the spot market.

At the Multi Commodity exchange, October potato fell by Rs 14.30, or 3% to Rs 461.40 per quintal, with a business volume of 311 lots.

The April contract eased by Rs 7.60, or 1.21%, to Rs 616 per quintal, with a turnover of one lot, while March contract traded lower by Rs 2.50, or 0.39% to Rs 638.40 per quintal in 33 lots.

Fall in potato prices was mostly due to offloading of positions by speculators driven by a subdued demand in the spot market, traders said.