Potato weakens by 0.2% on increased supply

Potato prices weakened by 0.20% to Rs 861 per quintal in futures market today as speculators offloaded positions, triggered by increased supplies from producing regions.

 

At the Multi Commodity Exchange, potato for delivery in far-month April weakened by Rs 1.70, or 0.20%, to Rs 861 per quintal in a business turnover of 8 lots.

 

Potato for delivery in March also traded lower by Rs 1.70, or 0.19%, to Rs 881.20 per quintal in 6 lots.

 

Analysts said offloading of positions by speculators, triggered by increased supplies from growing regions, mainly kept pressure on potato prices at futures trade.