Potato futures up 2.58% on strong demand, restricted supply

NEW DELHI: Potato prices rose by 2.58 per cent to Rs 849.90 per quintal in futures trade today as speculators enlarged their positions on a firming spot market trend amid restricted supplies from the major producing regions.

Sentiment improved further as the traders enlarged holdings on account of a surge in the demand for the commodity in the market also supported the uptrend.

At the Multi Commodity Exchange, potato for delivery in April-2014 rose by Rs 21.40, or 2.58 per cent, to Rs 849.90 per quintal, with trading volume of 8 lots.

The potato for delivery in March also moved up by Rs 14.20, or 1.64 per cent, to Rs 878 per quintal with a trade volume of 75 lots.

Marketmen said increased buying by speculators on pick-up in spot market demand and tight supplies from major producing belts mainly led to rise in potato prices at futures trade.