Potato futures up 1.18% on high spot demand

NEW DELHI: Potato prices rose by Rs 12.40 to Rs 1,055 per quintal in futures trade today, largely supported by a pick-up in spot market demand.

Sentiment improved further as a result of the restricted arrivals from producing regions.

At the Multi Commodity Exchange, potato for May month contract rose by Rs 12.40, or 1.18 per cent to Rs 1,055 per quintal, with a trading volume of 451 lots.

The delivery for delivery in June month contract also traded higher by Rs 14.60, or 1.11 per cent to Rs 1,324.90 per quintal with a business volume of 98 lots, while May month delivery up by Rs 13, or 1.08 per cent, to Rs 1,215.90 per quintal in 498 lots.

Marketmen said the rise in potato prices at futures trade was attributed to the rising spot demand.

Also restricted arrivals in the markets from producing belts in UP, Punjab, MP and West Bengal also influenced the prices,they said.