Cotton Complex Falls On Tuesday

Cotton complex falls on Tuesday mainly on chart based trading and market participants book their profits at higher levels. NCDEX Kapas for Apr’17 closed 1.16% down while MCX Jun’16 cotton closed down by 0.49%. However, demand is growing from textile sector due to limited 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.

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