Almost zero forward deals with exporters seen this season as China reduced its imports from India, record-high acreage as well as cotton production, along with dull demand from mills has resulted in fall in cotton prices and it will be the lowest in last one year.
Cotton prices have fallen to the lowest levels in the current cotton year (October 2013-September 2014), at Rs 33,000-34,000 a candy (356 kg). Demand for cotton in terms of exports will also be low.
According to sources, going f
Global oil prices have fallen to their lowest level in more than two years after Saudi Arabia cut its official selling price.
Concerns of oversupply after higher output in the US, together with forecasts of lower global demand by the International Energy Agency (IEA), are driving prices down.
Brent crude fell by more than 1 percent to $93 a barrel, its lowest since June 2012.
US light crude fell below $90 for the first time in 17 months.
On Wednesday, Saudi Arabia announced it was re