Potato remains weak on reduced offtake

Potato futures prices fell by Rs 6, to Rs 649.50 per quintal today, as speculators offloaded their positions, driven by a slump in demand at the spot market. 

At the Multi Commodity exchange, potato for May contract fell by Rs 6, or 0.72 per cent, to Rs 649.50 per quintal, with a trading volume of five lots.

The potato for delivery in April contract eased by Rs 5.40, or 0.87 per cent to Rs 616.50 per quintal, with a business volume of 38 lots, while March contract also traded lower by Rs 4.80 or 0.76 per cent to Rs 629 per quintal, with a trading volume of 109 lots.

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