Domestic cotton futures are seen down next week because of import of cheaper cotton from overseas, traders and analysts said today. International futures prices are also seen weak, they said. | |
| "Domestic futures prices are seen bearish next week, as imported cotton is cheaper when compared with local prices," said Prerna Desai of Man Financials. |
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| Imported cotton has become cheaper after the rupee appreciated around 11 per cent since August, she said. |
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| "Domestic importers have entered into contracts for 150,000 bales from West African countries, which may be delivered within 20 days," she said, adding this has dampened the market sentiment. |
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