After cotton prices rose to ₹100,000 per candy in August following unseasonal rain, speculative trading and a global cotton shortage, the Securities and Exchange Board of India shut cotton futures on MCX to cool prices. Cotton prices have now eased, in line with global prices, as demand softened this year.
"The advantage with MCX is that it helps in price discovery and also risk hedging, and we do feel that it should continue to function in that respect," textiles secretary Rachna Shah said in an interview. "While there were concerns on speculation, to address those, the product advisory committee was constituted with representatives of the industry. The committee has engaged with Sebi in terms of contract specification and quality standards. I am very hopeful that future trading will be restarted very shortly. Most of the issues are now resolved, and it is really a matter of time," she added.
Diese Geschichte stammt aus der January 30, 2023-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der January 30, 2023-Ausgabe von Mint Mumbai.
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