Cotton Complex Recovered In Yesterday

Cotton complex recovered in yesterday trade after two days of downtrend due to chart based trading. NCDEX Kapas for Apr’17 closed 0.79% higher while MCX Jun’16 cotton closed higher by 0.77%. However, demand is growing from textile sector due to limited supplies of quality cotton in the domestic market. There are reports of lesser sowing area in major producing belts of Punjab and Haryana. Similarly, Telangana farmers were directed to plant less cotton this season. Currently, CCI is actively auctioning cotton bales from its reserves to keep the supplies adequate.

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