Potato futures up on spot demand

Potato prices rose by Rs 4.70 to Rs 525.90 per quintal in futures trade today as speculators 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 June rose by Rs 4.70, or 0.90% to Rs 525.90 per quintal, with a trading volume of 184 lots. 

The July contract gained Rs 3.90, or 0.82% to Rs 477 per quintal, with a business volume of 111 lots. 

August potato moved up by Rs 3.60, or 0.81% to Rs 437.90 per quintal in 80 lots. 

 

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