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Potato prices surged by 2.93% to Rs 643.70 per quintal in futures trade today as speculators created fresh positions supported by rising demand in the spot market.
Tight stocks availability in the physical market due to restricted arrivals from producing belts following heavy rains further fuelled the uptrend.
At the Multi Commodity Exchange, potato for delivery in September shot up by Rs 18.30, or 2.93%, to Rs 643.70 per quintal in business turnover of 385 lots.
Likewise, the potato for delivery in August shot up by Rs 14.50, or 2.13% to Rs 696 per quintal in 267 lots.
Market analysts attributed the sharp rise in potato futures to an upsurge in demand in the spot market against restricted arrivals from producing regions.
