Potato futures decline on profit taking

Potato futures prices declined by Rs 3.80 to Rs 721 per quintal today as speculators booked profits, amid subdued demand in spot market.

Increased arrivals in the physical market also influenced the trading sentiments.

At the Multi Commodity Exchange, potato for April contract declined by Rs 3.80, or 0.52 per cent, to Rs 721 per quintal, with a trade volume of just one lot. 

The potato for delivery in March also weakened by Rs 2.40, or 0.33 per cent, to Rs 735.70 per quintal, with a business turnover of just one lot.

Market analysts said profit booking by speculators, driven by a sluggish demand at existing high levels in the spot market, mainly led to the decline in potato futures prices.