Potato extends gain as demand picks up

Potato prices extended gains for the second straight day by adding Rs 12.70 to Rs 867 per quintal in futures market today as traders enlarged their positions, tracking a firming trend at spot market on pick up in demand due to the ongoing marriage season.

Limited arrivals from producing regions in the physical market further fuelled the uptrend in potato futures.

At the Multi Commodity Exchange, potato for delivery in April month added Rs 12.70, or 1.49%, to Rs 867 per quintal, with a business turnover of 221 lots.

May potato was up Rs 10, or 1.09%, to Rs 928.50 per quintal, with an open interest of 237 lots.

 

Traders said besides a firming trend at spot market on pick up in demand due to the ongoing marriage season, less arrivals from producing region mainly helped potato futures to extend gains for the second straight day.