Potato futures remain weak on higher supply, low demand

NEW DELHI: Potato remained weak for the second straight day and prices shed another 0.42 per cent to Rs 1150.50 per quintal in futures trade today as speculators offloaded positions amid higher supplies from producing regions.

At the Multi Commodity Exchange, potato for delivery in far-month April fell by Rs 5.10, or 0.42 per cent to Rs 1,150.50 per quintal in business turnover of 73 lots.

The potato for delivery in March also traded lower by Rs 3.10, or 0.26 per cent to Rs 1,111.50 per quintal in 162 lots.

Market analysts said offloading of positions by speculators, triggered by higher supplies in mandies from producing regions mainly kept pressure on potato prices at futures trade.