Potato futures fall 0.71% on adequate supply

NEW DELHI: Potato prices fell by Rs 5.40 to Rs 755 per quintal on Wednesday as speculators offloaded their positions driven by a weak trend in the spot market.

Adequate supplies in the physical market following increased arrivals from producing belts also put pressure on potato futures prices.

At the Multi Commodity Exchange, potato for delivery in April fell by Rs 5.40, or 0.71 per cent, to Rs 755 per quintal, with a business volume of 36 lots.

For delivery in March, potato traded lower by Rs 4.30, or 0.54 per cent, to Rs 788 per quintal, with a trade volume of 14 lots.

Marketmen said fall in potato prices was mostly due to offloading of positions by speculators, driven by subdued demand in the spot market.

They said increased supplies from producing region further pulled down the prices.