Potato futures decline 0.89% on adequate supply

NEW DELHI: Potato prices drifted by Rs 7.40 to Rs 828.60 per quintal in futures trading on Monday as speculators offloaded their positions, driven by subdued demand in the spot market against adequate supplies.

Besides, adequate stocks availability in the physical market following increased arrivals from producing regions, also weighed on the potato futures prices.

At the Multi Commodity Exchange, potato for delivery in March declined by Rs 7.40, or 0.89 per cent, to Rs 828.60 per quintal with a business volume of 37 lots.

The potato for delivery in April also traded lower by Rs 5.40, or 0.65 per cent, to Rs 822 per quintal in 19 lots.

Market analysts said offloading of positions by speculators owing to subdued demand and higher supplies in the spot market, mainly led to a fall in potato prices at futures trade.