Potato futures decline on profit taking

Potato futures prices declined by Rs 4.30 to Rs 663 per quintal today, as traders booked profits driven by subdued demand in the spot market.

Adequate stocks positions, following increased arrivals in the physical market further fuelled the downtrend in potato futures prices.

At the Multi Commodity Exchange, potato prices for delivery in April declined by Rs 4.30, or 0.64 per cent, to Rs 663 per quintal, with an open interest in just one lot.

Potato prices for delivery in March also traded lower by Rs 3.90, or 0.57 per cent, to Rs 683.70 per quintal, with a business turnover of just two lots.

Market analysts said adequate stocks position following increased arrivals from producing region against subdued demand mainly led to decline in potato futures prices.