Potato futures up on spot demand

Potato prices rose by Rs 3.30 to Rs 555 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 June delivery contract rose by Rs 3.30, or 0.60% to Rs 555 per quintal, with trading volume of 34 lots.

Potato for delivery in May gained Rs 2.50, or 0.41% to Rs 615 per quintal, with a business volume of 45 lots.

Similarly, the commodity for delivery in July advanced by Rs 1.30, or 0.25% to Rs 521 per quintal, with an open interest of 57 lots. 

 

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