Potato futures up on spot demand

NEW DELHI: Potato prices moved up by Rs 7.70 to Rs 790 per quintal in futures market today as speculators created fresh positions, driven by an improvement in demand in the spot market.

However, expectations of higher output this season limited the gains.

At the Multi Commodity Exchange, potato for delivery in March moved up by Rs 7.70, or, 0.98 per cent, to Rs 790 per quintal in business turnover of seven lots.

The potato for delivery in April also moved up by Rs 4.90, or, 0.65 per cent, to Rs 754.80 per quintal in 34 lots.

Market analysts attributed the rise in potato futures to fresh positions created by speculators, supported by a rise in demand in the spot market mainly helped potato prices to trade higher at futures trade.