Potato prices down 4% on selling pressure

Potato prices continued to slide for that third straight day by losing by Rs 21. 60, or 4% in order to Rs 517. 70 per quintal in futures trade today as speculators off-loading their positions at existing higher levels triggered by reduced offtake within the spot market.

At the Multi Commodity Exchange, October potato plunged by Rs twenty one. 60, or 4% to Rs 517. 70 per quintal with a business amount of 1, 599 lots.

The potato for delivery in September month also rejected by Rs 13. 90, or 2. 82% to Rs 478. 40 per quintal clocking a company volume of 722 lots.

The continued fall in potato prices mostly attributed on increased selling by speculators influenced by subdued demand within the spot market traders said.

They said fresh arrival from producing regions also put pressure about the prices.