Cotton Complex Continue To Trade Higher

Cotton complex continue to trade higher and closed the week on high for the second consecutive week as demand from textile sector increased due to dwindling supplies of quality cotton in the domestic market. Moreover, lesser sowing area in major producing belts of Punjab and Haryana and reports of Telangana farmers to sow less cotton also boost price. Currently, CCI is actively auctioning cotton bales from its reserves to keep the supplies adequate. On weekly basis, NCDEX Kapas for Apr’17 closed higher by 1.52% while MCX Jun’16 cotton closed 2.96% higher.

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