Potato futures rise on firm spot demand

Potato futures prices edged higher by Rs 4.70 to Rs 575 per quintal today, as traders enlarged their positions on rising demand in spot markets, driven by the ongoing 'Navratras'.

Restricted supplies from producing regions also supported the uptrend in potato futures.

At the Multi Commodity Exchange contract, potato for far-month April contract rose Rs 4.70, or 0.82 per cent, to Rs 575 per quintal, with a business volume of one lot.

The potato for delivery in October also gained Rs 2.40, or 0.40 per cent, to Rs 599.80 per quintal, with an open interest of single lot.

Marketmen said increased demand at the spot markets (mandies), driven by the ongoing auspicious "Navratras" festival mainly influenced the potato prices at futures trade here.

 

They said restricted arrivals from producing belts in Agra and Haldwani also influenced the trading sentiment to some extent.