Potato sheds 0.4% on adequate supply

Speculators offload positions, driven by lower demand in spot market

Potato prices moved down by 0.40 per cent to Rs 727.30 per quintal in futures trading today as speculators offloaded their positions, driven by lower demand in the spot market against adequate stocks position.

Adequate supplies in the physical market due to increased arrivals from producing belts further fuelled the downtrend.

At the Multi Commodity Exchange, potato for delivery in March month declined by Rs 2.90, or 0.40 per cent to Rs 727.30 per quintal in business turnover of 2 lots.

The April contract traded lower by Rs 1.40, or 0.20 per cent to Rs 704.10 per quintal in 2 lots.

 

Market analysts said speculators offloaded their positions on the back of lower demand in the spot market against adequate supplies mainly kept pressure on potato futures.