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Potato rises over 3% on spot demand

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Press Trust of India New Delhi

Potato prices rose by Rs 14.80, or 3.84 per cent, to Rs 400 per quintal in futures trade today, as traders enlarged their positions on pick up in spot demand.

Restricted supply from producing regions also supported the uptrend.

At the Multi Commodity Exchange counter, potato for October-month contract rose Rs 14.80, or 3.84 per cent, to Rs 400 per quintal, with a trading volume of 2,060 lots.

Potato for September contract traded higher by Rs 13.40, or 3.50 per cent, to Rs 396.30 per quintal, with a business volume of 2,484 lots, while March delivery up by 5.40, or 0.97 per cent, to Rs 568 per quintal, with an open interest of 127 lots.

 

Marketmen said increased buying by traders and speculators on pick up in demand in the spot market mainly 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 18 2010 | 5:19 PM IST

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