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Potato prices recover by 1.18% on spot demand

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Press Trust of India New Delhi

Potato prices recovered by Rs 5.50 to Rs 469.50 per quintal in futures trade today as speculators enlarged their positions on the back of a pick-up in spot market demand.

Restricted supply from producing regions also supported the uptrend.

At the Multi Commodity Exchange, October potato gained Rs 5.50, or 1.18%, to Rs 469.50 per quintal, with a trading volume of 194 lots.

The March contract was also trading higher by Rs 3, or 0.46%, to Rs 647.10 per quintal in 15 lots.

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

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

 

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First Published: Sep 20 2011 | 1:18 PM IST

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