Potato extend losses of sluggish demand in spot market

Potato futures prices fell further by Rs 17.80 to Rs 671 per quintal in futures trade today on sustained profit booking, amid sluggish spot market demand.  

Adequate stock positions at the spot market following increased arrivals from the 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 17.80, or 2.58 per cent, to Rs 671 per quintal, with a business turnover of 887 lots.

The potato for delivery in April-month contract fell by Rs 17.40, or 2.60 per cent, to Rs 652 per quintal, with a business turnover of 285 lots.

While delivery in May slipped by Rs 15.60, or 2.22 per cent, to Rs 687.10 per quintal, with a trading volume of 20 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.