According to the announcement of the Ministry of Textiles of India, under the cooperation of the Indian government, MCX Exchange, trading entities and industrial stakeholders, the cotton machine or contract of MCX Exchange has resumed trading on Monday, February 13, local time. It is reported that the current contract cancels the previous trading rule of 25 bags (about 4250 kg) per hand, and is revised to 48 kg per hand (about 100 bags, 17000 tons); The Bidder cancels “Rupee/package” and uses “Rupee/Kandi”.
The relevant departments said that the relevant amendments would help market participants to understand the price more intuitively, especially to help cotton farmers obtain reference when selling seed cotton.
Post time: Feb-15-2023