Kapas prices moved down by Rs 27 to Rs 712.80 per quintal in futures trade today following heavy selling by traders in line with weak spot market cues.
On the National Commodity and Derivatives Exchange, kapas for delivery in April fell by Rs 27, or 3.65%, to Rs 712.80 per quintal, with an open interest of 887 lots.
Similarly, the commodity for delivery in February went down by Rs 20.30, or 2.75%, to Rs 718 per quintal, with a business volume of 47 lots.
Market analysts said sluggish demand and mounting of stocks in spot market led to the fall in kapas futures prices.