Potato hits lower limit on adequate supply

Sluggish demand influences prices

Potato prices tumbled to hit daily lower limit of 4% to Rs 867.40 per quintal in futures trade today as speculators offloaded positions on the back of sluggish demand against adequate supplies.

At the Multi Commodity exchange, potato for delivery in October plunged by Rs 36.10, or 4%, to Rs 867.40 per quintal, with a business turnover of 51 lots.

March potato traded lower by Rs 2, or 0.28%, to Rs 705 per quintal, with an open interest of 15 lots.

The sharp fall in potato futures was due to offloading of positions by speculators, triggered by fresh arrivals in the spot market.