Potato falls on subdued demand

Potato prices fell by Rs 11 to Rs 634 per quintal in futures trade today on profit-booking amid weak demand at the spot market.

Adequate stock positions at spot markets following increased arrivals from producing regions also put pressure on the potato prices at futures market.

At the Multi Commodity Exchange platform, potato for delivery in March-month contract declined by Rs 11, or 1.70 per cent to Rs 634 per quintal, with a business volume of 297 lots. 

The potato for delivery in April-month contract traded lower by Rs 10.30, or 1.63 per cent to Rs 620 per quintal, with a business turnover of 91 lots, while May month delivery fell by Rs 6.40 or 0.96 per cent to Rs 660.10 per quintal, with a trading volume of 21 lots. 

Traders said speculators booked profits at existing higher levels and weakening trend at the spot market led to a decline in potato prices at futures trade.