Potato falls 3% on high supply

Weak demand contributes to downtrend

Potato prices fell by Rs 33.40 to Rs 1,080.90 per quintal in futures trade today on increased supplies from producing belts against lower demand.

At the Multi Commodity Exchange, potato for delivery in September month fell by Rs 33.40, or 3% to Rs 1,080.90 per quintal, with a business turnover of 16 lots.

October potato declined by Rs 12.50, or 1.05%, to Rs 1,175 per quintal, with a business turnover of 46 lots.

Experts said increased supplies from producing belts in the spot markets against lower demand kept pressure on potato futures.