Potato remains down on subdued demand

Potato prices fell further by Rs 5.40 to Rs 645.20 per quintal in futures trade today, on profit booking against poor demand at spot markets.

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 counter, potato for delivery in March-month contract declined by Rs 5.40, or 0.83 per cent to Rs 645.20 per quintal, with a business volume of 520 lots.

The potato for delivery in April-month contract traded lower by Rs 5.20, or 0.83 per cent to Rs 625 per quintal, with an open interest of 79 lots, while May-month delivery fell by Rs 4.80, or 0.71 per cent to Rs 667.70 per quintal, with a trading volume of 10 lots.

Traders said speculators booked profits at existing higher levels and weakening trend at the spot market led to a decline in potato prices at futures trade.