Potato weakens 1% on subdued demand

Increased supplies in the physical market also pulled prices higher

New Delhi, July 9 (PTI) Potato prices fell by Rs 13.50 to Rs 1,300 per quintal in futures trade today as speculators offloaded their positions driven by subdued demand in the spot market.

Increased supplies in the physical market following persistent arrivals from producing region against lower demand led to the fall in potato futures prices.

At the Multi Commodity Exchange, potato for August delivery fell by Rs 13.50, or 1.02%, to Rs 1,300 per quintal, with a business volume of 22 lots.

The commodity for delivery in July slipped by Rs 4.50, or 0.38%, to Rs 1,173.50 per quintal, with a trading volume of three lots.

Marketmen said fall in potato prices was mostly due to offloading of positions by speculators, driven by subdued demand in the spot market.