Potato futures hit upper limit on tight supply, surging demand

NEW DELHI: Continuing an upward streak, potato futures prices today rose by another 4 per cent to hit upper circuit at Rs 919.30 per quintal, largely supported by tight supplies against rising spot demand.

At the Multi Commodity Exchange, potato for April contract shot up by Rs 35.40, or 4 per cent, to Rs 919.30 per quintal, with a trading volume of 339 lots.

The delivery for the May also traded higher by Rs 35, or 4 per cent, to Rs 909.50 per quintal with a business volume of 312 lots.

Marketmen said the rise in potato prices at futures trade was mostly on the back of restricted supplies from producing regions against rising spot demand.