Potato futures rise on good spot demand

Potato futures prices traded higher by Rs 2.70, or 0.54 per cent, to Rs 505.20 per quintal in futures trade today, as traders enlarged their positions on pick up in spot demand.

Restricted arrivals from the producing regions fuelled the uptrend. At the Multi Commodity Exchange, potato for September contract rose Rs 2.70, or 0.54 per cent to Rs 505.20 per quintal, with an open interest of 383 lots.

The potato for July-month contract also moved up by Rs 2.40, or 0.49 per cent to Rs 493.50 per quintal, with a business turnover of 1,403 lots.

Marketmen said fresh buying by traders on pick up in demand in the spot market, against less arrivals from the producing belts of Haldwani and Shimla, mainly led to a rise in potato prices at futures market here.