Cotton Complex Closed Lower



Cotton complex closed lower on subdued demand in the domestic market. NCDEX Kapas closed 1.40 per cent lower while MCX cotton closed lower by 1.29 %. Reports of lower production in main cotton growing states due to below normal monsoon and pest attack may keep prices supported at higher levels in coming months. Cotton Advisory Board estimates cotton production at around 33 million bales (170 kg each) for the October 2015-September 2016 crop year against 38 million bales in the previous year. However,

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