Potato futures fall on reduced offtake

Potato prices fell by Rs 5.30 to Rs 454.10 per quintal in futures trade today as speculators offloaded their positions, driven by a weak global trend.

Adequate stocks position following increased arrivals from producing regions also put pressure on the potato prices in futures.

At the Multi Commodity Exchange, potato for August delivery fell by Rs 5.30, or 1.15%, to Rs 454.10 per quintal, with a business turnover of 143 lots. September delivery lost Rs 4.20, or 0.99%, to Rs 418.90 per quintal, with an open interest of 213 lots.

Traders said the fall in potato prices was mostly due to offloading of positions by speculators, following weak spot market trend on subdued demand.