Potato extends losses on adequate supply

Speculators offload their positions due to lower demand against adequate stocks position

Potato prices extended losses for the second day in a row with prices declining further by Rs 8.70 to Rs 1,514.50 per quintal in futures trading today as speculators offloaded their positions due to lower demand against adequate stocks position.

At the Multi Commodity Exchange, the October contract for potato remained weak and shed another Rs 8.70, or 0.57%, to Rs 1,514.50 per quintal, with a business turnover of seven lots.

The September contract declined by Rs 7.40, or 0.52%, to Rs 1,417.50 per quintal in 26 lots.

Marketmen said offloading of positions by speculators due to lower demand in the spot market against adequate stocks position mainly led to the fall in potato futures.