Potato futures up 0.31% on rising demand

NEW DELHI: Potato prices rose by 0.31 per cent to trade at Rs 1,275 per quintal in futures trade today after speculators enlarged positions triggered by rising demand in spot markets.

Besides, restricted supplies in physical markets from major producing regions in UP, Punjab, MP and West Bengal also influenced prices.

At the Multi Commodity Exchange, Potato for delivery in June-month contracts gained Rs 4, or 0.31 per cent, to Rs 1275 per quintal, with a business turnover of 14 lots.

Analysts said rise in Potato prices in futures trade was mostly attributed to rising demand in the physical markets amidst restricted arrivals from producing belts but curbs imposed by commodity markets regulator FMC last week in order to check prices, restricted gains.

Meanwhile, MCX last week raised the margin money from 5 per cent to 30 per cent of the value of the commodity to restrict buyers.