Potato futures rise on spot demand

Written by Agencies | New Delhi | Updated: Jan 28 2011, 19:51pm hrs
Potato futures prices rose by Rs 5.40 to Rs 700 per quintal on Friday, as traders enlarged their positions on pick up in the spot market demand for the ongoing marriage season.

Restricted supply from producing regions also supported the uptrend.

At the Multi Commodity Exchange, potato for delivery in May contract rose by Rs 5.40, or 0.78 per cent, to Rs 700 per quintal, with a business turnover of three lots.

Potato for delivery in March also moved up by Rs 4.10, or 0.60 per cent, to Rs 684 per kg, with a trade volume of just one lot.

Market analysts said increased buying by speculators on pick up in demand in the spot market due to the ongoing marriage season led to the rise in potato futures prices.