Business Standard

Potato futures rise 3% on spot demand

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Press Trust of India New Delhi

Potato prices rose by Rs 10.70, or three per cent, to Rs 368 per quintal in futures trade today, as traders enlarged their positions on pick up spot demand.

Restricted supply from producing regions also supported the upward march.

At the Multi Commodity Exchange platform, potato for October-month contract rose by Rs 10.70, or three per cent, to Rs 368.30 per quintal, with a trading volume of 727 lots.

It had surged four per cent, hit the upper circuit in yesterday's trading.

Potato for September-month contract traded higher by Rs 10.60, or 2.99 per cent, to Rs 364.30 per quintal, with a business volume of 1,105 lots, while August delivery up by 4.40 or 1.22 per cent to Rs 364.50 per quintal, with an open interest of 85 lots.

 

Marketmen said increased buying by traders and speculators in the spot market led to a rise in potato prices at futures trade.

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

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First Published: Aug 13 2010 | 1:34 PM IST

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