Potato futures rise on spot demand

Potato prices rose by Rs 4, to Rs 455 per quintal in futures trade today as traders enlarged their positions on pick-up in spot market demand amid low stocks.

At the Multi Commodity Exchange, potato for delivery in August rose by Rs 4, or 0.88%, to Rs 455 per quintal, with an open interest of 111 lots.

Potato for delivery in September traded higher by Rs 3.20, or 0.74%, to Rs 434.60 per quintal, with a business turnover of 81 lots.

Similarly, potato for delivery in July increased by Rs 2, or 0.40%, to Rs 491.50 per quintal, with an open interest of 61 lots. 

 

Market analysts said increased buying by speculators, driven by pick-up in spot market demand mainly led to the rise in potato futures prices.

They added that restricted arrivals from producing belts also influenced the trading sentiment to some extent.