Potato up on spot demand

Potato prices rose by Rs 9.70 to Rs 572.80 per quintal in futures trade today as speculators enlarged their positions on pick up in spot market demand amid low stocks.  

Restricted supply from producing regions also supported the uptrend.

At the Multi Commodity Exchange, potato for June month contract rose by Rs 9.70, or 1.72% to Rs 572.80 per quintal with a business volume of 222 lots.

Potato for May month contract traded higher by Rs 6.60, or 1.13% to Rs 585.90 per quintal with a business volume of 294 lots, while April month delivery soared by Rs 4.50 or 0.71% to Rs 632 per quintal with a business volume of 228 lots.  

 

Marketmen said increased buying by traders and speculators on pick up in demand in the spot market mainly led to rise in potato prices in the futures trade. 

They said restricted arrivals from producing belts also influenced the trading sentiment to some extent.