Potato prices down on reduce offtake

Potato futures prices fell by Rs 5.50 to Rs 659.10 per quintal in futures trade today, as speculators offloaded their positions, driven by less offtake in the spot market.

At the Multi Commodity exchange counter, potato for delivery in April fell by Rs 5.50, or 0.82 per cent, to Rs 659.10 per quintal, with a business volume of 146 lots.  

The potato for delivery in March eased by Rs 3.90, or 0.56 per cent, to Rs 683.30 per quintal, with a business turnover of 544 lots.

While delivery in May traded lower by Rs 3.50, or 0.50 per cent, to Rs 692.20 per quintal, with an open interest of 20 lots.

Fall in potato futures prices was due to offloading of positions by speculators driven by subdued demand in the spot market, traders said.