Potato rises by 4% on high spot demand

Speculators continued to enlarge their positions, supported by the pick up in spot market demand

Potato prices hit another daily upper limit of 4% to Rs 751.40 per quintal in futures trade today as speculators continued to enlarge their positions largely supported by pick-up in spot markets demand.

 

At the Multi Commodity Exchange, potato for August contract rose by Rs 28.30, or 4%, to Rs 751.40 per quintal with a trading volume of 302 lots. It had gained 4% yesterday.

 

The delivery for the September contract also traded higher by Rs 26.80, or 4%, to Rs 697.60 per quintal with a business volume of 251 lots.

 

Marketmen said the rise in potato prices at futures trade due to rising spot demand and restricted arrivals from producing belts in UP, Punjab, MP and West Bengal.