Potato futures fall 1.1% on reduced offtake

Potato futures prices fell 1.11% to Rs 1,150 per quintal today as speculators offloaded positions on weak trend in the spot market.

At the Multi Commodity Exchange, potato for April delivery fell by Rs 13, or 1.11%, to Rs 1,150 per quintal, with a business volume of 58 lots.

For delivery in March, potato traded lower by Rs 5.20, or 0.46%, to Rs 1,124 per quintal, with a trade volume of 62 lots.

Marketmen said fall in potato prices was mostly due to offloading of positions by speculators, driven by subdued demand in the spot market amid increased supplies in the physical market.