Potato futures down on profit taking

Potato prices drifted by Rs 7.80 to Rs 609.10 per quintal in futures trade today as speculators booked profits, driven by a fall in demand in the spot market.

Adequate stock positions in the physical market following increased arrivals from producing regions also put pressure on the potato futures prices.

At the Multi Commodity Exchange, potato for April-month contract fell by Rs 7.80, or 1.26 per cent to Rs 609.10 per quintal in a single lot.

Similarly, the potato for delivery in March contract declined by Rs 6.90, or 1.08 per cent to Rs 633.10 per quintal in just one lot.

Traders said speculators booking profits at existing higher levels and a weak trend at the spot market led to the decline in potato futures prices.