Kapas prices fell by Rs 16.80 to Rs 640.40 per 20 kg in futures trading today following speculators reducing their positions on the back of weak spot markets sentiment.
Market analysts said sluggish demand against increased supply in domestic markets, mainly influenced trading sentiments here in kapas futures prices.
They added that weakening global trend following shifting of demand to yarns also influenced the market activity.
At the National Commodity and Derivatives Exchange, kapas for March delivery shed Rs 16.80, or 2.56%, to Rs 640.40 per 20 kg, with an open interest of 10 lots.
Likewise, the prices for February delivery dipped by Rs 12.60, or 1.91%, to Rs 648 per 20 kg, showing an open interest of 82 lots.
