Potato falls by 1.5% on increased supply

Offloading of positions by speculators due to subdued demand in spot market affected the prices

Potato prices fell by 1.49% to Rs 775.60 per quintal in futures market today as speculators offloaded their positions due to sluggish demand in the spot market against increased supply from producing belts.

 

At the Multi Commodity Exchange, potato for delivery in September month fell by Rs 11.70, or 1.49% to Rs 775.60 per quintal in business turnover of 137 lots.

 

The potato for delivery in August contract also traded lower  by Rs 8.90, or 1.13% to Rs 780 per quintal in 4 lots.

 

Market analysts said offloading of positions by speculators due to subdued demand in spot market against higher supply from producing regions mainly kept pressure on potato prices at futures trade.