Potato futures weaken on fresh supply pressure

NEW DELHI: Potato prices drifted by 0.18 per cent to Rs 1,115.40 per quintal in futures market today after speculators offloaded positions, triggered by supply pressure from producing regions against weak demand in the spot market.

At the Multi Commodity Exchange, potato for delivery in March softened by Rs 2, or 0.18 per cent to Rs 1115.40 per quintal in business turnover of 134 lots.

Likewise, the potato for delivery in April weakened by Rs 1.40, or 0.12 per cent to Rs 1158.40 per quintal in 24 lots.

Market analysts said offloading of positions by speculators, triggered by higher supplies from producing regions against subdued demand in the spot market led to decline in potato prices at futures trade.