Kapas prices dropped by Rs 16.70 to Rs 762.50 per 20 kg in futures trade today following aggressive selling by traders in line with a weak spot markets sentiment.
Market analysts said sluggish demand in tandem with adequate stocks in the physical markets mainly led to the fall in futures prices of kapas.
At the National Commodity and Derivatives Exchange, kapas for delivery in March lost Rs 16.70, or 2.14%, to Rs 762.50 per 20 kg, with a trade volume of 11 lots.
February kapas shed Rs 12.10, or 1.55%, to Rs 770 per 20 kg, with a business turnover of 48 lots.
Similarly, its prices for April delivery lost Rs 12.10, or 1.55%, to Rs 768.50 per 20 kg, with an open interest of 741 lots.