Potato futures fall 1.20 pc on higher supply, low demand

Potato prices fell by 1.20 per cent to Rs 952.70 per quintal in futures trade today as speculators offloaded their positions on the back of low demand against higher supplies from producing regions.

At the Multi Commodity Exchange, potato for delivery in March fell by Rs 11.60, or 1.20 per cent, to Rs 952.70 per quintal in a business turnover of 278 lots.

Potato for delivery in far-month April also declined by Rs 11.30, or 1.19 per cent, to Rs 938 per quintal in 59 lots.

Analysts said speculators offloaded their positions on the back of low demand in the spot market against higher supplies from producing belts that mainly kept pressure on potato prices at futures trade.