Potato moves up in futures trade on spot demand

Potato prices moved up by Rs 5.20 to Rs 437.80 per quintal in futures market today as traders enlarged their positions, supported by pick-up in spot market demand.

At the Multi Commodity Exchange, potato for September delivery moved up by Rs 5.20, or 1.20%, to Rs 437.80 per quintal, with a business volume of 186 lots.

Likewise, the potato for October delivery edged up by Rs 5, or 1.18%, to Rs 428.10 per quintal, with an open interest of 162 lots. Market analysts said increased buying by traders on the back of pick-up in spot market demand, mainly led to rise in potato prices at futures trade.

 

They said restricted arrivals from producing belts in Agra and Haldwani also influenced the trading sentiment to some extent.