Potato futures price down 3% on low demand

Adequate stocks position,following increased arrivals from the producing regions also weighed on the prices.

Written by Agencies | New Delhi | Published:September 11, 2012 12:56 pm

Potato prices fell further by Rs 29.90 to Rs 968.10 per quintal in futures trade today as speculators offloaded their positions due to less offtake in the spot market.

Adequate stocks position,following increased arrivals from the producing regions also weighed on the prices.

At the Multi Commodity exchange,potato for September delivery fell by Rs 29.90,or 3 per cent,to Rs 968.10 per quintal,with a trade volume of 36 lots.

The potato for delivery in October also declined by Rs 26.60,or 2.46 per cent,to Rs 1,052 per quintal,with a business turnover of 103 lots.

Continued fall in potato prices is due to offloading of positions by speculators on subdued demand in spot markets,traders said.

They said sentiment weakened further on easy availability in the physical markets following fresh arrivals from producing regions in UP,Punjab,MP and West Bengal.

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