Potato up 1.4% on spot demand, tight supply

Potato for delivery in far-month March declined by 0.69%

Potato prices gained 1.44% to Rs 788.10 per quintal in futures trading today as speculators enlarged their positions, driven by pick up in demand in the spot market against tight supplies.

At the Multi Commodity Exchange, potato for delivery in September gained Rs 11.20, or 1.44% to Rs 788.10 per quintal in business turnover of 59 lots.

However, potato for delivery in far-month March declined by Rs 5.70, or 0.69% to Rs 82,570 per quintal in 13 lots.

Market analysts said speculators enlarged their positions, driven by pick up in demand in the spot market against tight supplies from producing belts, mainly pushed up potato prices at futures trade.