Potato prices rose by 4% to hit the upper circuit at Rs 462.90 per quintal in futures trade today as traders enlarged their positions, driven by a pick-up in spot market demand amid the ongoing festive season.
Restricted arrivals from producing regions also supported the upsurge in potato prices..
At the Multi Commodity Exchange, October potato rose by Rs 17.80, or 4%, to Rs 462.90 per quintal, with a business turnover of 815 lots.
In a similar fashion, potato for September delivery moved up by Rs 15.40, or 3.43%, to Rs 464.50 per quintal in 1,107 lots.
Market analysts said increased buying by traders on the back of a pick-up in spot market demand for the ongoing festive season mainly led to the upsurge in potato prices in futures trade.
Furthermore, restricted arrivals from producing belts— Agra and Haldwani— also influenced the trading sentiment to some extent.
