Potato futures shed 1.27% on increased supply

Potato prices declined by Rs 7.80 to Rs 605 per quintal in futures trade today amid increased supply from producing regions and reduced offtake by traders in the spot market.

At the Multi Commodity Exchange, April potato fell by Rs 7.80, or 1.27%, to Rs 605 per quintal in a single lot.

The March contract delivery shed Rs 1.40, or 0.27%, to Rs 638 per quintal in 17 lots.

Market analysts said increased supply from producing belts amid reduced offtake by traders in the spot market mainly pulled down potato prices in futures trade.