Potato increases due to steady demand

Posted By: Religare
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Potato increases due to steady demand
On June 9, 2011, the prices of potato for the July contract rose by Rs 3.30, or 0.68% to Rs 482 per quintal, with a trading volume of 83 lots at the Multi Commodity Exchange (MCX) since fresh holdings were created by the trders tracking the rise in the spot market demand.

The potato for the August contract also traded higher by Rs 2.70, or 0.62% to Rs 432.40 per quintal, with a business volume of 58 lots at the MCX.

The potato for the June contract also moved up by Rs 1.90, or 0.36% to Rs 525.10 per quintal in 56 lots at the MCX.

Moreover, the reduced supply from the growing belts in Agra and Haldwani also supported the prices.

Meanwhile, the country is ranked 5th in potato production after China, Russian Federation, Poland and Ukraine. The productivity of potato in India is about 16-19 tonnes/ha vis-À-vis that of European countries and USA, i.e 30-40 tonnes/ha.

There are four-potato export zone in India viz. in UP, Punjab, MP and West Bengal. The major potato markets in UP are Agra, Hathras, Kanpur, Meerut, Farrukkhabad; Jalandhar, Ludhiana, Phul and Patiala in Punjab; Ujjain, Indore and Dewas in MP and Hoogly, Burdwan and Howrah in West Bengal.

Potato is the world's fourth important food crop after wheat, rice and maize owing to its great yield potential and high nutritive value and accounts for nearly half of the worlds annual output of all root and tuber crops.

Read more about: commodities, mcx, futures, potatoes
Story first published: Monday, June 13, 2011, 14:30 [IST]
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