The trend of decline in cotton prices continued this week as well. In the International Cotton Exchange market, a decline was registered in the deal price of all the three months of May, July and December. The rate for May saw a decrease of 0.35 points, for July it was 0.5 and for December it was 0.74 points.
Cotton prices for the months of April and May have also decreased in the Multi Commodity Exchange market this week. A decline of 300 points has been seen in the deal price of April and 540 points in the deal price of June. Cotton prices on NCDX have also decreased by Rs.6 this week. While the price of Khal has registered an increase of Rs 125 and Rs 116 for the months of April and May respectively.
Cotton prices are down this week across other exchange markets like Cotlook A Index, Brazil Cotton Index, USDA Spot Rate, MCX Spot Rate and KCA Spot Rate. If you look at the currency value, the currency of India, Pakistan and Brazil managed to make a slight gain against the dollar, while the dollar maintained its lead on the currency of other countries.
