Cotton and Mentha Oil Expect Fast

Prices of Cotton Futures (March) are likely to increase to Rs 21,120.It is news that Indian businessmen have signed an agreement to export 5 lakh barrels of cotton to China in the next two months. Meanwhile, the reserves of cotton in MCX’s authorized warehouses have increased by 56% compared to the 1.16 lakh bales of the same period last year and reached the highest level of 1.81 lakh bell. 

Prices of Chana Futures (March) are likely to be hindered at the level of Rs 4,175 due to the inward and sluggish business of new crop in spot markets. In Madhya Pradesh and Rajasthan, the pressure of the sale is being seen due to the sale of pulses by NAFED. The gram purchased by NAFED during Rabi Season 2018 was 27,24,051.17 tonnes till February 27, of which only 7,81,115.16 tonnes has been sold and 19,42,936.01 tonnes is of Sarpulas.

Prices of Mentha Oil Futures (March) are likely to be traded in the range of Rs 1,595-1,630 Due to poor weather conditions in the production areas due to delay in sowing, prices are likely to be helpful. According to reports farmers are worried about untimely rains and bad weather, which can affect production and productivity. Traders hope that due to low stock, prices may rise due to demand from local consumers. 

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