The total cotton supply estimated by the CAI during the months of October 2019 to July 2020 is 392.40 lakh bales of 170 kg each which consists of the arrival of 345.40 lakh bales upto July 31, 2020, imports of 15 lakh bales upto July 31, 2020 and the opening stock estimated by the CAI at 32 lakh bales at the beginning of the season on October 1, 2019.
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The total cotton supply estimated by the CAI during the months of October 2019 to July 2020 is 392.40 lakh bales of 170 kg each which consists of the arrival of 345.40 lakh bales upto July 31, 2020, imports of 15 lakh bales upto July 31, 2020 and the opening stock estimated by the CAI at 32 lakh bales at the beginning of the season on October 1, 2019.
The total cotton supply estimated by the CAI during the months of October 2019 to July 2020 is 392.40 lakh bales of 170 kg each which consists of the arrival of 345.40 lakh bales upto July 31, 2020, imports of 15 lakh bales upto July 31, 2020 and the opening stock estimated by the CAI at 32 lakh bales at the beginning of the season on October 1, 2019.
The total cotton supply estimated by the CAI during the months of October 2019 to July 2020 is 392.40 lakh bales of 170 kg each which consists of the arrival of 345.40 lakh bales upto July 31, 2020, imports of 15 lakh bales upto July 31, 2020 and the opening stock estimated by the CAI at 32 lakh bales at the beginning of the season on October 1, 2019.
The Multi Commodity Exchange of India Ltd (MCX) recently signed an agreement with the Northern India Textiles Mills’ Association (NITMA) in Ludhiana to jointly educate NITMA members and other relevant stakeholders on the use and benefits of cotton derivatives.
During the recent weeks, cotton prices have increased by 50 per cent and are skyrocketing as multinational corporations are holding benami stocks with 0 per cent interest funding from their origin countries. Speculators via MCX, NCDEX are playing havoc with the cotton users, says Rikhab C Jain, Chairman, T T Group.