Potato falls on subdued demand

Potato prices fell further by Rs 8.50 to Rs 672.30 per quintal in futures trade today, on profit-booking and subdued demand at the spot market.

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 May-month contract declined by Rs 8.50, or 1.25 per cent to Rs 672.30 per quintal.

The potato for delivery in April month contract traded lower by Rs 4.70, or 0.73 per cent to Rs 635 per quintal, while March-month delivery fell by Rs 4.20 or 0.64 per cent to Rs 654.80 per quintal.

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.