Owing to crop damage in Andhra Pradesh and delayed monsoon, potato may witness high future on NCDEX. Further, soaring vegetable prices might support the potato price gain in medium term, the BL report says.
According to the report on Tuesday, Potato delivery for August on NCDEX gained more than 2 per cent, but gave away much of the gain to settle with a gain of 0.63 per cent. Low cut rainfall jointly with low supply in Andhra Pradesh would now shift the concentration to other major potato growing regions of Agra and West Bengal for meeting the demand. About 220 lakh tonnes of potato is stored in various cold storage, added the report.
In current scenario, potato stock in Uttar Pradesh dip by 11 per cent at about 89 lakh tonnes compared to 100.42 lakh tonnes stored in the same period last year. Punjab has an inventory of about 16 lakh tonnes and in Bihar it was 10 lakh tonnes. West Bengal has about 50 lakh tonnes of potato in cold storage. Delayed monsoon affected the sowing in Karnataka, whereas in Maharashtra sowing for kharif season is yet to start.
