Potato futures gain 1.38% on seasonal demand

Potato prices rose by Rs 8.90 or 1.38 per cent to Rs 656 per quintal in futures market today, as speculators enlarged their positions on rising seasonal demand in the spot market.

Tight supplies due to restricted arrivals from producing regions further fuelled the uptrend.

At the Multi Commodity Exchange counter, potato for March rose by Rs 8.90, or 1.38 per cent to Rs 656 per quintal, with an open interest of single lot.

The potato for delivery in April-month also moved up by Rs 7.40, or 1.17 per cent to Rs 640 per quintal, with a business turnover of just one lot.

Marketmen said the rise in potato prices at futures market was attributed to rising demand against less arrivals in the physical market, which pushed up potato futures prices.