Cotton Complex Closed Down On Profit



Cotton complex closed down on profit booking as demand is steady from textile industry. NCDEX Kapas closed lower by 0.88% while MCX cotton closed 0.13% down. As per CCI data, as on February 25, 2016, arrivals are pegged at 21.4 million 170 kg bales or 3.6 mt all over the country in marketing year 2015/16, which is lagging by almost 20 per cent compared to the previous year data. CCI estimated daily arrivals over 128,800 bales during January 2016, but arrivals have increased due to limited holding capacity for farmers and inadequate warehousing to store cotton before the onset of the monsoon and new planting season.

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