Potato futures fall on subdued spot demand

Potato futures prices fell by Rs 4.50, or 0.61 per cent, to Rs 599 per quintal today on profit booking and subdued demand at spot markets.

Adequate stocks position at spot markets, following increased arrivals from the producing regions, also put pressure on the potato futures prices.

At the Multi Commodity Exchange platform, potato for delivery in May declined by Rs 4.50, or 0.75 per cent, to Rs 599 per quintal, with a trading volume of three lots.

The potato for delivery in April traded lower by Rs 3.60, or 0.61 per cent, to Rs 581.60 per quintal, with a business volume of 40 lots, while March delivery fell by Rs 2.90, or 0.48 per cent, to Rs 595.60 per quintal, clocking in a trading volume of 105 lots.

 

Traders said speculators booking profits at existing higher levels and weakening trend at spot markets, led to a decline in potato futures prices.