Potato futures weaken on subdued demand

Written by Agencies | New Delhi | Updated: Jun 28 2011, 21:14pm hrs
Potato prices weakened by Rs 4 to Rs 484 per quintal in futures trade on Tuesday as speculators off-loaded their positions, driven by subdued spot demand.

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

At the Multi Commodity Exchange, potato for delivery in July weakened by Rs 4, or 0.82 per cent, to Rs 484 per quintal, with a business turnover of 105 lots.

Similarly, the potato for delivery in August shed Rs 2.40, or 0.53 per cent, to Rs 448.60 per quintal, with an open interest of 39 lots.

Traders said fall in potato futures prices was mainly due to off-loading of positions by speculators amid increased arrivals from producing region.