Potato weakens on subdued demand

Higher supplies in the phsyical market also put pressure on prices

Potato prices fell by Rs 5.80 to Rs 1,150 per quintal in futures trade today as speculators offloaded their positions driven by subdued demand in the spot market.

Higher supplies in the physical market from producing regions also put pressure on potato futures prices.

At the MCX, potato for delivery in July declined by Rs 5.80, or 0.50%, to Rs 1,150 per quintal in business turnover of 50 lots.

The August contract traded lower by 90 paise, or 0.07%, to Rs 1,230 per quintal in 19 lots.

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