By
Reuters
Published
Feb 2, 2010
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India kapaskhali futures lower on slack demand

By
Reuters
Published
Feb 2, 2010

MUMBAI, Feb 2 (Reuters) - India's cottonseed oilcake, or kapaskhali, futures ended down on Tuesday 2 February, weighed by ample arrivals and slack demand, analysts said.



The benchmark March contract NCDH0 ended at 1,165.5 rupees per 100 kg, down 0.59 percent. The contract has fallen over 11 percent since hitting a contract high of 1,318 rupees on Dec.1

"Demand has dried up in the market. Traders are apprehending further fall in the prices," said an Akola-based trader.

Kapaskhali, a by-product of cottonseed, is used as cattle feed and largely consumed in the north-western states of India.

The cotton year is from October to September.

In November, textile commissioner and chairman of Cotton Advisory Board (CAB) said India's cotton exports in 2009/10 are expected to increase 57 percent to 5.5 million bales.

(Reporting by Meenakshi Sharma; Editing by Prem Udayabhanu)

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