Cotton Complex Closed Higher Yesterday

Cotton complex closed higher yesterday on the back of short supply and good demand from domestic mills. Export demand also supported the gain. Recently, Gujarat government increased MSP for the state and farmers are anticipating other states to follow suit. NCDEX Kapas closed 1.56 per cent higher while MCX cotton closed higher by 1.22 per cent. Price are supportive and trading sideways to higher due to steady trading activity in cotton as mills which is showing interest in fresh buying of fine quality cotton.

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