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Potato prices shot up by 4% to hit upper circuit at Rs 821.80 per quintal in futures trading today as speculators enlarged positions amid strong demand in the spot market against tight supplies.
At the Multi Commodity Exchange, potato for delivery in September month spurted by Rs 31.60, or 4% to Rs 821.80 per quintal in business turnover of 167 lots.
The potato for delivery in August contract also moved up by Rs 24, or 3.01% to Rs 822.60 per quintal in 148 lots.
Market analysts said speculators enlarged their positions, driven by strong demand in the spot market against tight supplies from producing regions following heavy rains mainly led to an upswing in potato prices, hitting upper limit of 4% at futures trade.
