Potato futures prices down over 1% on adequate supply, low demand

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SummaryPotato prices moved down by 1.07 per cent to Rs 675 per quintal in futures market today.

Potato prices moved down by 1.07 per cent to Rs 675 per quintal in futures market today as speculators offloaded their positions amid low spot demand against adequate supplies from producing regions.

Adequate supplies following increased arrivals from producing regions also put pressure on potato futures prices.

At the Multi Commodity Exchange, potato for delivery in April moved down by Rs 7.30, or 1.07 per cent, to Rs 675 per quintal, with a business turnover of five lots.

The potato for delivery in March also shed Rs 1.90, or 0.27 per cent, to Rs 715 per quintal in 12 lots.

Market analysts said offloading of positions by speculators at existing higher levels, tracking a weak trend at spot market on low demand against increased supplies mainly pulled down potato prices at futures trade.

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