Cotton Prices Trend Forecast: With early sown cotton-selling commencing in mandis in cotton-growing states including Gujarat, prices of the fibre in the domestic market have slipped below Rs 90,000 per candy (356 kg per candy) from over Rs1 lakh per candy in a span of a fortnight.
Cotton
Cotton Prices to Remain High Till Fresh Arrival Post-Diwali
Cotton Prices Forecast: Though progressive cotton sowing in India has crossed last year’s 12-million-hectare mark till now this season, prices are still hovering around Rs 91,000 to Rs 96,000 per candy (356 kg per candy) and it is unlikely to subside till fresh cotton crop hits the market in October.
Multi Commodity Exchange (MCX) INDIA
Multi Commodity Exchange of India Ltd (MCX) (BSE: 534091) is an independent commodity exchange based in India. It was established in 2003 and is based in Mumbai. It is India’s largest commodity derivatives exchange where the clearance and settlements of the exchange happens and the turnover of the exchange for quarter ended December 2017 was 12.82 trillion rupees. MCX offers options trading in gold and futures trading in non-ferrous metals, bullion, energy, and a number of agricultural commodities (mentha oil, cardamom, crude palm oil, cotton and others).
MCX Sees Record Turnover, Volumes in Gold Options
Gold Silver Reports (GSR) – MCX Sees Record Turnover, Volumes in Gold Options — Multi Commodity Exchange of India Ltd (MCX) witnessed a record turnover and volume of Rs 2,021 crore and 6443 kilograms (kg) respectively on Tuesday in gold options contract, according to a release issued by the exchange.
MCX Cotton Up Side Resistance at 20590
Gold Silver Reports — Technically MCX Cotton market is under short covering as market has witnessed drop in open interest by -16.15% to settled at 3966 while prices up 60 rupees.