Potato continued to decline for the second straight day, and lost Rs 8.70 to Rs 491 per quintal in futures trade today on sustained buying by speculators at existing higher levels against reduced offtake in the spot market.
At the Multi Commodity exchange, potato for delivery in July fell by Rs 8.70, or 1.74% to Rs 491 per quintal, with a trading volume of 148 lots.
The commodity delivery in June declined by Rs 2.20, or 0.41% to Rs 524 per quintal, with an open interest of 208 lots.
Likewise, prices for delivery in May eased by 70 paise, or 0.12% to Rs 579.50 per quintal, with a trade turnover of 244 lots.
Traders attributed the continuous fall in potato prices to increased selling by speculators, influenced by subdued demand in the spot market.
Fresh arrival from producing regions also put pressure on the prices, they added.