Potato rises by 2% on firm demand, tight supply

Potato prices rose by Rs 17.50 to Rs 723.10 per quintal in futures trade today as speculators enlarged their positions on a firming spot market trend amid restricted arrivals from the major producing regions.

 

At the Multi Commodity Exchange, potato for delivery in September rose by Rs 17.50, or 2.48%, to Rs 723.10 per quintal, with trading volume of 127 lots.

 

The potato for delivery in August also moved up by Rs 9, or 1.20%, to Rs 754 per quintal with a trade volume of 62 lots.

 

Marketmen said increased buying by speculators on the back of pick-up in spot market demand and tight supplies from major producing belts, mainly led to the rise in potato prices at futures trade.