Potato prices down 2.12% on adequate stocks

Weak spot market trend also pushed prices down

Potato prices fell by Rs 21.20 to Rs 977.40 per quintal in futures trade today as speculators offloaded their positions due to weak spot market trend following less offtake.

Adequate stocks position on increased arrivals from the producing regions into the spot markets also weighed on the futures prices.

At the Multi Commodity exchange, potato for October delivery fell by Rs 21.20, or 2.12%, to Rs 977.40 per quintal, with a trade volume of 26 lots.

The potato for delivery in March also declined by Rs 3, or 0.41%, to Rs 733.10 per quintal, with a business turnover of three lots.

Continued fall in potato prices was due to offloading of positions by speculators on subdued demand in the spot market and new arrivals, traders said.