Potato sheds 1.84% on adequate stocks

Sluggish spot demand influences prices

Potato prices shed 1.84% to Rs 1,050 per quintal in futures trade today, as speculators offloaded their positions due to sluggish spot demand.

Adequate stocks position, following increased arrivals from the producing regions put pressure on the prices.

At the Multi Commodity exchange, potato for delivery in September declined by Rs 19.70, or 1.84%, to Rs 1,050 per quintal in a business turnover of just two lots.

October potato traded lower by Rs 10.60, or 0.90%, to Rs 1,163.10 per quintal in 36 lots.

The fall in potato futures prices was due to offloading of positions by speculators, on sluggish demand in the spot market, traders said.