Kapas prices dropped by Rs 32 to Rs 786.50 per 20 kg in futures trading today as speculators reduced positions amidst subdued demand in physical markets.
At the National Commodity and Derivatives Exchange, kapas for delivery in February month contracts fell by Rs 32, or 3.91 per cent, to Rs 786.50 per 20 kg, with an open interest of 51 lots.
The most-active April contracts month also eased by Rs 6.50, or 0.79 per cent, at Rs 814.50 per 20 kg in an open interest of 9,927 lots.
Marketmen attributed fall in kapas prices at futures trade to off-loading of positions by participants driven by subdued demand from textile units at spot markets.
