Kapas futures climb Rs 10.50 per 20 kg

Kapas prices flared up by Rs 10.50 per 20 kg in futures trading today after participants created speculative positions amid a firm trend at the physical markets.
In futures trading at the National Commodity and Derivatives Exchange, kapas delivery for April shot up by Rs 10.50, or 1.06 per cent, to Rs 999 per 20 kg, with a business turnover of 9,952 open lots.
Marketmen said a firming trend in spot markets following restricted arrivals from growing belts against strong demand for fibre units and textile industries, mainly secured uptrend in prices.