Potato futures climb 1.53% on strong demand, tight supply

Potato prices surged by 1.53% to Rs 897 per quintal in futures trade today as speculators enlarged positions, driven by strong demand in the spot market.

At the Multi Commodity Exchange, potato for delivery in March spurted Rs 13.50, or 1.53%, to Rs 897 per quintal in business turnover of 91 lots.

Likewise, the potato for delivery in April shot up by Rs 10.30, or 1.20%, to Rs 868 per quintal in 31 lots.

Analysts said speculators enlarged their positions, driven by strong demand in the spot market supported by ongoing marriage season amid restricted arrivals from producing belts, mainly pushed up potato prices at futures trade.