Potato up 1.3% on spot demand

Restricted arrivals influence prices

Potato prices rose by Rs 14.20 to Rs 1,060 per quintal in futures trade today as speculators created fresh positions, driven by increased buying in spot market.

Sentiment improved as the traders enlarged their holdings on account of a surge in the demand for the commodity in the market.

At the Multi Commodity Exchange, potato for delivery in October rose by Rs 14.20, or 1.35%, to Rs 1,060 per quintal, with a business turnover of 28 lots.

March potato gained Rs 11.50, or 1.56%, to Rs 745 per quintal, with a business turnover of six lots.

Marketmen said fresh buying by speculators, following a rise in demand in the spot market against restricted arrivals from producing belts, helped potato futures to trade higher.