Potato rises 4% on firm spot demand

Potato prices rose by Rs 18.70, or 3.91 per cent, to Rs 496.80 per quintal in futures trade today, as traders enlarged their positions on pick up in spot market demand.

Restricted supply from producing regions also supported the uptrend in futures trade.

At the Multi Commodity Exchange platform, potato for October contract rose by Rs 18.70, or 3.91 per cent, to Rs 496.80 per quintal, with a trading volume of 1,560 lots.

Potato for September contract traded higher by Rs 6.60, or 1.53 per cent, to Rs 437.50 per quintal, with a business volume of 178 lots, while March delivery got up by Rs 5.10, or 0.84 per cent, to Rs 606 per quintal, with an open interest of 337 lots.

 

Marketmen said increased buying by traders and speculators on pick up in demand in the spot market mainly led to a 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.