Potato futures slip on subdued demand

Written by Agencies | New Delhi | Updated: Jan 31 2011, 23:04pm hrs
Potato futures prices fell by Rs 5.20 to Rs 661 per quintal in futures trading on Monday as speculators offloaded their positions, driven by a sluggish demand in the spot market.

Adequate stocks in the physical market following increased arrivals from producing region also put pressure on the potato prices.

At the Multi Commodity Exchange counter, potato for April contract slipped by Rs 5.20, or 0.78 per cent, to Rs 661 per quintal, with an open interest of just one lot.

Likewise, the potato for delivery in March contract lost Rs 4.40, or 0.65 per cent, to Rs 676 per quintal, with an open interest of just one lot.

Traders said fall in potato futures prices was due to off-loading of positions by speculators amid adequate stocks at the spot market following increased arrivals from producing belts.