Potato remains weak on subdued demand, supply pressure

Potato down over 1.5% in futures trade

Potato prices fell by Rs 21 to Rs 1,280 per quintal in futures trade today as speculators offloaded their positions driven by subdued demand in the spot market.

Increased supplies in the physical market following persistent arrivals from producing region also put pressure on potato prices at futures trade.

At the MCX, potato for August delivery fell by Rs 21, or 1.61 %, to Rs 1,280 per quintal, with a business volume of 44 lots.

The commodity for delivery in July declined by Rs 14.80, or 1.26 %, to Rs 1,155.10 per quintal, with a business volume of 36 lots.

Marketmen said fall in potato prices was mostly due to offloading of positions by speculators, driven by higher arrivals against subdued demand in the spot market.