Potato futures remain weak on increased supply

Potato futures prices extended losses for the third straight day and fell by another Rs 1.30 to Rs 582.60 per quintal today, as speculators engaged in offloading positions, triggered by a weak trend in the spot market.

Increased arrivals at the spot markets from producing regions also influenced the trading sentiment.

At the Multi Commodity exchange counter, potato for April delivery declined by Rs 1.30, or 0.22 per cent, to Rs 582.60 per quintal, with a business turnover of just one lot.

The potato for delivery in March also shed Rs 0.90, or 0.15 per cent, to Rs 596.50 per quintal, clocking in a trade volume of just one lot.

 

The continued fall in potato futures prices was mostly due to offloading of positions by speculators, following a weak trend at the spot market, traders said.