By admin       2019-04-22

Mumbai April 18, 2019 - The average daily traded value of cotton on the Multi Commodity Exchange of India (MCX) hit a record ₹310 crore in March and emerged as the highest daily traded agri-commodity across exchanges. The guarseed contract traded on the National Commodity and Derivatives Exchange (NCDEX) was the second-highest traded agriculture commodity last month, clocking an average daily turnover of ₹295 crore. It was followed by castorseed and soyabean with an average daily turnover of ₹248 crore and ₹236 crore, respectively. In fact, the average daily trading value of cotton on the MCX jumped 53 per cent last month from the ₹202 crore logged in March 2018. Volatility in prices of the fibre amid expectation of lower output and strong demand has been driving investor interest in the last few months. Daily traded volumes, on an average, were up 48 per cent at 1.45 lakh bales (98,015 bales).

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