MCX Cotton Prices have started rising in the last couple of months, helped by Cotton Corporation of India (CCI)'s procurement of a fifth of the total crop and lower yield estimates.
Prices have increased 8% in India. On MCX, cotton was trading at Rs 15,020 per bale (of 170 kg) compared to Rs 13,990 on 23 January, 2015. On the US exchanges too, cotton prices have gone up by 9.4% to 63.67 cents per pound in the same period.
MCX March cotton future traded on negative note following cues from spot market and settled at Rs.14980/bale, down by 086% against the last day. Volume increased by 859 lots due to selling at higher level where as open interest decreased by 354 lots on yesterday .
CCI has so far procured more than 8 million bales, which is 20% of the total crop expected for the cotton year (October-September) 2014-15.
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Prices have increased 8% in India. On MCX, cotton was trading at Rs 15,020 per bale (of 170 kg) compared to Rs 13,990 on 23 January, 2015. On the US exchanges too, cotton prices have gone up by 9.4% to 63.67 cents per pound in the same period.
MCX March cotton future traded on negative note following cues from spot market and settled at Rs.14980/bale, down by 086% against the last day. Volume increased by 859 lots due to selling at higher level where as open interest decreased by 354 lots on yesterday .
CCI has so far procured more than 8 million bales, which is 20% of the total crop expected for the cotton year (October-September) 2014-15.
Get real time advice for Agri Commodity Tips, Best NCDEX Tips Provider , Agri Commodity Trading , Agri Trading Tips and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900 .
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