12/01/2022
As A Textile Technocrat, Cotton Exporter, Spinner, and cotton E commerce project head, it is my strong feeling that MCX cotton futures must continue in India.
Unlike some section of people demanding to ban or suspend the MCX futures particularly cotton futures, it is not right at all, actually MCX cotton futures are only futures available in India for Agricommodities, particularly world Biggest cotton producing country needs this types of futures for hedging and market assessment purpose.
MCX also must concentrate the following things they must open their delivery centres in all major cotton producing or Ginning centres, and Spinning centres unlike they concentrate only in Gujarat, Maharatstra, and Rajasthan. here Rajasthan is very small cotton producing state. They were completely ignored Telangana with only one centre where 60 lac bales production was there, AP & Karnataka where these states are are 4th and 5th position of cotton production in India each producing 20-25 lac bales, and MCX completely ignored Tamilnadu where 50% of Indian cotton consumption is there, so MCX must concentrate on Prominent Ginning centres Like Warangal, Guntur, Raichur, Raigad and Spinning centres Like Coimbatore,Dindigul, Salem, Erode, Guntur,Kolhapur, Ludhiana,Indore, for opening delivery centres with more options to take delivery from Ginners or traders and to give delivery to Spinners opportunities traders in these areas, then these type agitations, allegations can be avoided on MCX cotton futures.
https://m.facebook.com/story.php?story_fbid=1554432461596020&id=676208616085080&sfnsn=wiwspmo
MCX Press Release - Irrational demand by few value chain participants for suspension of Cotton futures
Click here: https://bit.ly/mcxpressrelease
