Potato up on crop concerns

Less sowing in producing areas following delayed monsoon also pulled prices higher

Potato prices rose by Rs 14.50 to Rs 1,311 per quintal in futures trade today as traders created fresh positions on firm spot demand.

Sentiment improved further on restricted arrivals from producing regions amid concerns over less sowing in producing areas following delayed monsoon.

At the Multi Commodity Exchange, potato for August delivery rose by Rs 14.50, or 1.11%, to Rs 1,311 per quintal, with a trading volume of 53 lots.

The July contract also traded higher by Rs 9.40, or 0.80%, to Rs 1,185.10 per quintal, with a business volume of 19 lots.

Marketmen said the rise in potato prices at futures trade was mainly due to the rising spot demand.

The sowing of potato seeds in producing areas affected by less and delayed rains also supported the uptrend, they said.