Potato futures up on spot demand

Potato prices rose by Rs 15.60 to Rs 592 per quintal in futures trade today as traders enlarged their positions on pick-up in spot market demand.

Restricted supply from producing regions also supported the uptrend.

At the Multi Commodity Exchange, potato for delivery in May rose by Rs 15.60, or 2.70%, to Rs 592 per quintal, with a business volume of 703 lots.

Potato for delivery in June traded higher by Rs 14.10, or 2.50%, to Rs 578.90 per quintal, with a business volume of 260 lots.

Likewise, the commodity prices for delivery in April went up by Rs 13.60, or 2.27%, to Rs 611 per quintal, with an open interest of 735 lots.

Market analysts said increased buying by traders and speculators on pick-up in demand in the spot market mainly led to the rise in potato prices at futures trade.