Potato falls 1.9% on weak demand

Increased arrivals contribute to downtrend

Potato prices fell by Rs 20.10 to Rs 1,020.10 per quintal in futures trade today as speculators offloaded their positions following low demand in the domestic markets.

Sentiment weakened further as a result of easy availability of stocks in the physical markets after fresh arrivals from producing regions of Uttar Pradesh and Punjab.

At the Multi Commodity Exchange, potato for delivery in October fell by Rs 20.10, or 1.93%, to Rs 1,020.10 per quintal, with a business turnover of 18 lots.

March potato declined by Rs 5.50, or 0.73%, to Rs 739 per quintal, with a business turnover of four lots.

 

Traders said increased supplies from producing belts against lower demand kept pressure on potato futures.