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Potato futures rise 0.38% on spot demand

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Press Trust of India New Delhi

Potato prices gained Rs 1.80, or 0.38 per cent, to Rs 469.50 per quintal in futures market today, as traders enlarged their positions on pick up in spot market demand.

Restricted supply from producing regions also supported the uptrend.

At the Multi Commodity Exchange, potato for July contract gained Rs 1.80, or 0.38 per cent, to Rs 469.50 per quintal, with an open interest of 899 lots.

Potato for August-month also traded marginally higher by Rs 0.60, or 0.13 per cent, to Rs 473.50 per quintal, with an open interest of 1,346 lots.

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

They said restricted arrivals from producing belts in Haldwani and Shimla, also influenced the trading sentiment to some extent.

 

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First Published: Jul 07 2010 | 1:58 PM IST

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