Kapas futures slip 1.21 pc on subdued demand

Kapas prices moved down by 1.21 per cent to Rs 1,140 per 20 kilos in the futures trade today on liquidating of holdings amid thin demand in the spot markets.

Marketmen said bumper ready stocks on non-stop arrivals along with easing of demand from fiber and textile industries in the spot markets mainly dragged down the prices of kapas in futures trade.

At the National Commodity and Derivatives Exchange, kapas for April dipped by Rs 14, or 1.21 per cent, to Rs 1,140 per 20 kilos, with the business turnover of 3,844 open lots.