Potato falls by 3.6% on adequate supply

Adequate supplies position in the physical market following increased arrivals from producing region affected prices

Potato prices extended losses for the second straight day by losing Rs 27.50 to Rs 741 per quintal in futures trading today as speculators offloaded their positions, on sluggish demand in the spot market.

 

Adequate supplies position in the physical market following increased arrivals from producing region also kept pressure on potato.

 

At the Multi Commodity Exchange, potato for delivery in September fell by Rs 27.50, or 3.58% to Rs 741 per quintal in business turnover of 332 lots.

 

The potato for August contract also declined by Rs 19.40, or 2.53% to Rs 748 per quintal in 81 lots.

 

 

Market analysts said speculators offloading of positions on sluggish demand in spot market against increased supplies from producing regions mainly influenced potato prices at futures trade.