Potato futures gain on spot demand

Potato prices rose by Rs 4.40 to Rs 492.50 per quintal in futures trade today as speculators created fresh positions on the back of a pick-up in spot market demand amid restricted arrivals.

At the Multi Commodity Exchange, October potato rose by Rs 4.40, or 0.90%, to Rs 492.50 per quintal, with a business turnover of 251 lots.

The September contract gained Rs 4.10, or 0.87%, to Rs 476.90 per quintal, with an open interest for 161 lots.

Analysts said fresh buying by traders amid a pick-up in demand mainly led to the rise in potato futures prices.

They added that restricted supply from producing regions in Haldwani and Agra also supported the uptrend.