Potato futures marginally higher on spot demand

Potato prices traded marginally higher by Rs 1.60, or 0.32 per cent, to Rs 501.70 per quintal in futures market today, as traders enlarged their positions on rising spot demand.

Less arrivals at spot markets from the producing regions also supported the uptrend. At the Multi Commodity Exchange, potato for August contract gained Rs 1.60, or 0.32 per cent, to Rs 501.70 per quintal, with an open interest of 1,165 lots.

The potato for delivery in July contract also traded higher by Rs 1.50, or 0.30 per cent, to Rs 496 per quintal, with a business volume of 1,393 lots.

 

Marketmen said increased buying by speculators and restricted arrivals from the producing belts of Haldwani and Shimla led to a rise in potato prices at futures market here.