NCDEX Kapas futures rose Tuesday as traders created fresh positions on the back of thin supply in the domestic markets amid firm demand. In NCDEX Kapas March contract is trading at Rs.806.40 per 20 Kg, up by 4.01 per cent against the previous close.
In the morning session the contract traded at a range of Rs.798.60-806.40 per quintal. Open interest of the contract is 30 lots and volume traded is 5 lots for the time being.
As per latest release from Cotton Corporation of India, the total cotton arrivals in the country were reported at 88.8 lakh bales (1 bale = 170 kg) as on 25th December 2011 against the arrival of 111.79 lakh bales as farmers to hold back their stock in anticipation of getting higher price.
