Cotton Complex Recovered

Cotton complex recovered after for the second consecutive session yesterday due to reports of lower production pegged by CAI by about 8.5 lakh bales lower than the October estimate of 370.50 lakh bales. NCDEX Kapas closed 0.17 per cent higher while MCX cotton closed higher by 0.24 per cent. Recently, Gujarat government increased MSP for the state and farmers are anticipating other states to follow suit. Price are supportive and trading sideways to higher due to steady trading activity in cotton as mills is showing interest in fresh buying of fine quality cotton.

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