Potato prices decline 2% on increased supply

Potato prices moved down by Rs 8.10, or 1.72 per cent, to Rs 463.20 per quintal in futures trading today, as speculators offloaded their holding against increased arrivals in the physical market.

At the Multi Commodity Exchange counter, potato for October fell by Rs 8.10, or 1.72 per cent, to Rs 463.20 per quintal, with an open interest of 1,722 lots.

The potato for delivery in September-month also weakened by Rs 4.80, or 1.10 per cent, to Rs 432.10 per quintal, with an open interest of 1,435 lots.

Fall in potato prices at futures market was due to offloading of positions by speculators, against increased arrivals from the producing regions, traders said.