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Potato futures end higher on good spot demand

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Press Trust of India New Delhi

Potato futures prices rose by Rs 6.10 to Rs 636.40 per quintal today on fresh holdings created by the traders, tracking the rise in demand in the spot market on account of the ongoing marriage season.

Restricted supply from producing regions also supported the uptrend.

At the Multi Commodity Exchange, March potato gained Rs 6.10, or 0.96%, to Rs 636.40 per quintal, with a trading volume of 222 lots, April delivery prices rose by Rs 5.40, or 0.88%, to Rs 613.90 per quintal, with a business volume of 50 lots.

The May contract also traded higher by Rs 4.90, or 0.77%, to Rs 637 per quintal, with a trading turnover of six lots.

Marketmen said increased buying by speculators on pick-up in demand in the spot market mainly led to the rise in potato prices at futures trade.

They said fresh holdings were created by the traders tracking the rise in the demand in the spot market on account of the ongoing marriage season.

 

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First Published: Dec 20 2011 | 1:34 PM IST

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