Potato futures hit upper limit on speculative buying

PTI Updated - January 08, 2013 at 01:03 PM.

Potato prices hit the upper limit of four per cent to Rs 777.90 per quintal in the futures market on Tuesday owing to increased speculative buying.

Potato prices hit the daily upper limit of four per cent to Rs 777.90 per quintal in the futures market on Tuesday as speculators enlarged their positions on a firming spot markets trend.

The trading sentiment improved further on restricted supply from the producing regions.

At the Multi Commodity Exchange, potato for delivery in March surged by Rs 29.90, or 4 per cent, to Rs 777.90 per quintal with a business turnover of 208 lots.

Potato prices for delivery in April also jumped up by Rs 28.20, or 4 per cent, to Rs 733.80 per quintal, with trading volume of 21 lots.

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

Published on January 8, 2013 07:33