Date:01/05/2006 URL: http://www.thehindubusinessline.com/2006/05/01/stories/2006050100360700.htm

Back Cotton seen lower

Dhimant Bhatt

Mumbai , April 30

Cotton (medium staple) futures prices are expected to rule lower this week in the absence of firm buying interest from mills amid weak overseas market, traders said. Cotton medium staple May contracts on NCDEX platform were down Rs 50 to trade at Rs 1,700 per maund (37.32 kg) ex-Abohar from previous week's close of Rs 1,752 per maund.

"Futures prices were down because New York futures were going down steadily almost everyday as there were no buying from China. Domestic prices may rule lower this week," a broker said. Spot prices at Abohar mandi were also down Rs 15 at Rs 1,800 per 10 kg last week.