MCX' cotton stock deposit touches all-time high at 1.81 lakh bales so far

Leading commodity bourse MCX Wednesday said the cotton stock deposit in its accredited warehouses has touched an all-time high of 1,81,200 bales on March 5.

The stock deposit stood at 1,16,300 bales on the same day last year, the exchange said in a statement.

The stock belongs to ginners, traders, farmers and corporates among other stakeholders who participated in the futures trading in cotton on the exchange platform.

"This amply demonstrates the (cotton future) contract's ability to enable cotton stakeholders to effectively manage their price risk," MCX MD and CEO Mrugank Paranjape said.

This shows the platform is not only providing efficient risk management tools to the stakeholders, but is also facilitating a robust system for participants to tender and receive delivery, Multi Commodity Exchange Clearing Corporation MD and CEO Narendra Ahlawat said.

The highest ever cotton deposit in MCX accredited warehouses once again reaffirms the confidence of the cotton stakeholders in the exchange's robust warehousing and delivery mechanism, Cotton Association of India Vice President B S Rajpal said.

Since the launch in October 2011, MCX said, its cotton futures contract witnessed trade of more than 15.44 crore bales till date.

About 9,77,200 bales of cotton have been delivered through the exchange platform.