Potato prices rose further by Rs 5.70 to Rs 506 per quintal in futures trade today as traders enlarged their positions on pick-up in spot market demand amid low stocks.
Restricted supply from producing regions created tight stocks position, which further supported the uptrend.
At the Multi Commodity Exchange, July contract for potato rose by Rs 5.70, or 1.13%, to Rs 506 per quintal, with a trading volume of 229 lots.
August contract for potato delivery traded higher by Rs 4.20, or 0.91%, to Rs 465 per quintal, with a business volume of 187 lots. Similarly, prices for delivery in September rose by Rs 4, or 0.92%, to Rs 435.90 per quintal in 208 lots.
Market analysts said increased buying by speculators on pick-up in spot demand mainly led to the rise in potato prices at futures trade.
They said restricted arrivals from the producing belts also influenced the trading sentiments to some extent.
