Potato extend losses as spot demand declines

Potato prices fell by Rs 7.10 to Rs 645.20 per quintal in futures trade today, as traders reduced their positions, amid adequate stocks in local markets following new arrivals from producing regions.

At the Multi Commodity Exchange platform, potato for delivery in May contract fell by Rs 7.10, or 1.09 per cent to Rs 645.20 per quintal, with a business volume of one lot.

The potato for delivery in April-month contract fell by Rs 4.70, or 0.75 per cent to Rs 615 per quintal, with a business turnover of 13 lots, while March delivery slipped by Rs 3.30 or 0.52 per cent to Rs 630.10 per quintal, with a trade volume of 29 lots.

Traders said sluggish demand at the physical markets, amid adequate stocks led to a decline in potato prices at futures trade.