Potato down 0.3% on reduced offtake

Potato futures prices declined by 0.33% to Rs 1,178 per quintal today as speculators offloaded their positions amid adequate stocks in the physical markets on increased arrivals from producing regions.

At the Multi Commodity Exchange, potato for March delivery fell by Rs 4, or 0.33%, to Rs 1,178 per quintal, with a business volume of 9 lots.

For delivery in April, potato traded lower by Rs 3.80, or 0.31%, to Rs 1,197 per quintal, with a trade volume of 17 lots.

Marketmen said fall in potato prices at futures trade was mostly owing to offloading of positions by speculators amid subdued demand in the spot market amid increased supplies in the physical market.