Potato turns weak on profit-booking

Potato futures prices declined by Rs 5.40 to Rs 665.50 per quintal in futures trade today as traders indulged in booking profits at existing higher, driven by a weak demand in the spot market.

At the Multi Commodity Exchange counter, potato for delivery in April declined by Rs 5.40, or 0.80 per cent, to Rs 665.50 per quintal, with an open interest of just one lot.

Similarly, the potato for delivery in March shed Rs 3.50, or 0.51 per cent, to Rs 686 per quintal, with a business turnover of two lots.

Market analysts said beside profit booking by speculators at existing higher levels, fall in demand in the spot market led to decline in refined soya oil futures prices.

Increased arrivals from the producing region also influenced the trading sentiment to some extent, they added.