Potato futures soften 0.69 pc on higher supply

Potato prices fell 0.69 per cent to Rs 1,181 per quintal in futures market today due to higher supplies from producing regions against low demand.

At the Multi Commodity Exchange, potato for delivery in April declined by Rs 8.20, or 0.69 per cent, to Rs 1,181 per quintal in a business turnover of 116 lots.

Potato for delivery in March also softened by Rs 4.70, or 0.40 per cent, to Rs 1,172 per quintal in 78 lots.

Analysts said offloading of positions by speculators amid higher supplies from producing belts against slackened demand mainly kept pressure on potato prices at futures trade.