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In commodity market terminology, Kapas is raw, unginned cotton and specifically refers to the fibrous white seed-covering obtained from the cotton plant. It is a natural fiber that is commonly-obtained from the Gossypium arboretum or tree cotton species in India, although hybrid varieties are increasingly popular.
Kapas futures trade on the Mumbai, India-based Multi Commodity Exchange (MCX) as a fiber product. Although best known for its use in the textile industry, raw cotton can be processed to produce a wide variety of end-use products, and can be decorticated by hand or machine.