Potato Futures Likely To Extend Gains On Strong Export Demand .

Potato futures March delivery on NCDEX ended the last session higher by 2.60% at Rs. 703.6 and the open interest dipped 8.16% to 18720 tonnes. Strong export demand is likely support the potato futures and price may peak new high in today's trading session.

Potato prices are likely to get support in longer term on the back of export order from the Russian traders this week. As per the market sources, during the last week, a clutch of Punjab-based potato farmers are in the final stages of signing a deal with Russian traders for exporting close to 10,000 tonnes of the crop to Russia for the first time, according to the market sources. This due to the lower potato prices in India amid sufficient availability during the ongoing harvesting time and drop in potato production in Russia because of low yield caused by extreme temperatures. The demand is for around one lakh tonnes of potato.

Source : indiainfoline.com