Agri Business

Potato futures up on spot demand

PTI New Delhi | Updated on April 01, 2011

potato

Potato prices rose by Rs 15.60 to Rs 592 a quintal in futures trade on Friday as traders enlarged their positions on pick-up in spot market demand. Restricted supply from producing regions also supported the uptrend.

At the Multi Commodity Exchange, potato for delivery in May rose by Rs 15.60, or 2.70 per cent, to Rs 592 a quintal, with a business volume of 703 lots.

Potato for delivery in June traded higher by Rs 14.10, or 2.50 per cent, to Rs 578.90 a quintal, with a business volume of 260 lots.

Likewise, the commodity prices for delivery in April went up by Rs 13.60, or 2.27 per cent, to Rs 611 per quintal, with an open interest of 735 lots.

Market analysts said increased buying by traders and speculators on pick-up in demand in the spot market mainly led to the rise in potato prices at futures trade.

Published on April 01, 2011

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