Related Keywords: Arrivals improved, cotton corporation of India, despite the global rates remaining steady, domestic cotton prices, dropped by nearly rupees five hundred per quintal, Farmers holding onto Kapas in anticipation of better prices, fear of prices coming down, futures trade and MCX, owing to heavy speculation, start to bring kapas into the market
Domestic cotton prices have dropped by nearly R500 per quintal to trade to around R5,400-5,500 a quintal from R6,000 around 10 days ago owing to heavy speculation in the futures trade and MCX in this period despite the global rates remaining steady, according to top officials of the Cotton Corporation of India (CCI).
Farmers who were holding onto Kapas in anticipation of better prices will now start to bring in the commodity into the market on the fear of prices coming down, said M M Chokalingam, CMD-in-charge, CCI.
