Potato sheds 0.13% on weak demand

Speculators offload positions on low offtake in spot trade

Amid lower domestic demand, potato futures traded lower by 0.13 per cent to Rs 1,200 per quintal in futures trade today as speculators offloaded their positions.

At the Multi Commodity Exchange, potato for delivery in April traded lower by Rs 1.60, or 0.13 per cent to Rs 1,200 per quintal in business turnover of 51 lots.

The potato for delivery in March contract also weakened by 90 paise, or 0.08 per cent to Rs 1181.20 per quintal in 24 lots.

Analysts said fall in potato prices was mostly owing to offloading of positions by speculators against lower demand in the spot market led to decline in potato prices at futures trade.