Potato futures weaken on adequate supply

Potato prices weakened by 0.20% to Rs 438.20 per quintal in futures trade today on sluggish demand in the spot market against adequate supply.

Adequate stocks position followed by increased arrivals from the producing regions also put pressure on the prices.

At the Multi Commodity Exchange, potato for September delivery shed 90 paise, or 0.20%, to Rs 438.20 per quintal, with a business turnover of 97 lots.  

The potato for August delivery also traded lower by 40 paise, or 0.09%, to Rs 429.20 per quintal, with an open interest of 126 lots.

Market analysts said fall in potato futures prices was mostly due to speculators offloading positions, driven by sluggish demand in the spot market.