MCX handles four lakh bales of cotton this crop season

MCX handles four lakh bales of cotton this crop season

by admin- Wednesday, September 25th, 2019 07:48:26 AM

Spate of global unfastened exchange pacts threaten Indian apparel exports

MCX has treated delivery of 398,600 bales (of a hundred and seventy kgs every) of cotton valued at ₹853 crore within the cotton crop season ended August. Last yr, it dealt with 182,300 bales of cotton delivery.

During this season, cotton deposits at 42 MCX-permitted warehouses hit an all-time excessive of two.14 lakh bales in comparison with 1.Eighty one lakh bales ultimate yr, an increase of 18 in keeping with cent. The increase in ordinary participation from the cotton fee chain has led to better transport and deposits of cotton at exchange-accepted warehouses.

As the futures contracts for crop 12 months 2018-19 have concluded, all cotton stocks at detailed warehouses in Rajkot, Kadi and Mundra in Gujarat; Jalna and Yavatmal in Maharashtra and Adilabad and Warangal in Telangana were delivered to the buyers.

PS Reddy, Managing Director, MCX, said efficient rate discovery coupled with a sturdy transport and settlement mechanism made it widely applicable.

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