Potato futures extends gain as demand picks up

Written by Agencies | New Delhi | Updated: Feb 29 2012, 20:46pm hrs
Potato pricesPotato futures extends gain as demand picks up
Potato prices extended gains for the second straight day by adding Rs 12.70 to Rs 867 per quintal in futures market today as traders enlarged their positions, tracking a firming trend at spot market on pick up in demand due to the ongoing marriage season.

Limited arrivals from producing regions in the physical market further fuelled the uptrend in potato futures.

At the Multi Commodity Exchange, potato for delivery in April month added Rs 12.70, or 1.49 per cent, to Rs 867 per quintal, with a business turnover of 221 lots.

The potato for delivery in May also gained Rs 10, or 1.09 per cent, to Rs 928.50 per quintal, with an open interest of 237 lots.

Traders said besides a firming trend at spot market on pick up in demand due to the ongoing marriage season, less arrivals from producing region mainly helped potato futures to extend gains for the second straight day.