Potato futures fall over 1 per cent on sluggish demand

Potato prices fell by Rs 5.20 to Rs 428 per quintal in futures trade today as speculators offloaded their positions, driven by sluggish demand in the spot market.

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

At the Multi Commodity exchange, potato for delivery in August fell by Rs 5.20, or 1.20% to Rs 428 per quintal, with a business turnover of 99 lots. 

Potato for delivery in July declined by 90 paise, or 0.19% to Rs 472.50 per quintal in 36 lots.

Traders said fall in potato prices was mostly due to offloading of positions by speculators, driven by sluggish demand in the spot market.