Potato up 1.9% on strong demand, tight supply

Commodity for delivery in April climbed by 1.8%

Potato prices surged 1.94% to Rs 908.20 per quintal in futures trade today as speculators enlarged positions driven by strong demand in the spot market against tight supplies from producing region.

At the Multi Commodity Exchange, potato for delivery in far-month March surged by Rs 17.30, or 1.94%, to Rs 908.20 per quintal in business turnover of 167 lots.

The potato for delivery in April climbed by Rs 15.80, or 1.84%, to Rs 873.80 per quintal in 37 lots.

Analysts said speculators enlarged their positions, triggered by strong demand in the spot market against tight supplies from producing regions, mainly led to an upsurge in potato prices at futures trade.