Potato futures decline on increased supply

Potato prices weakened by Rs 2.60 to Rs 661 per quintal in futures market today on increased arrivals against subdued demand.

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 May-month declined by Rs 2.60, or 0.39 per cent to Rs 661 per quintal, with an open interest of single lot.

In a similar fashion, the potato for delivery in March shed Rs 1.20, or 0.19 per cent to Rs 632.90 per quintal, with just one lot.

Traders said increased arrivals against subdued demand in the spot market mainly led to a fall in potato prices futures prices.