Potato futures drop on increased supply

Potato futures prices drifted by Rs 2.60 to Rs 591.10 per quintal today, as speculators offloaded positions, triggered by a weak trend in spot markets.

Increased arrivals at spot markets from producing regions also influenced the trading sentiment.

At the Multi Commodity Exchange counter, potato for delivery in April declined by Rs 2.60, or 0.44 per cent, to Rs 591.10 per quintal, with a trade volume of just one lot.

The potato for delivery in March also weakened by Rs 2.40, or 0.40 per cent, to Rs 604.00 per quintal, with an open interest of just one lot.
Market analysts said offloading of positions by speculators, following a weak trend at the spot market, led to the fall in potato futures prices.