Potato sheds 0.63% on lower demand

Increased arrivals contribute to downtrend

Potato prices shed 0.63% to Rs 1,332.50 per quintal in futures trading today as speculators reduced their positions, tracking a weak trend at the spot market against increased arrivals from producing belts.

At the Multi Commodity Exchange, potato for delivery in August declined by Rs 8.50, or 0.63%, to Rs 1,332.50 per quintal, with a business turnover of 27 lots.

September potato fell by Rs 6, or 0.42%, to Rs 1,412 per quintal in 12 lots.

Market analysts attributed the fall in potato futures to lower demand in the spot market against increased arrivals from producing belts.