Cotton On MCX Settled Down By -0.31% At 19290

Cotton on MCX settled down by -0.31% at 19290 due to weak domestic as well as export demand at the spot market. Though, reports of lesser sowing in north India, capped some losses in cotton prices. Cotton acreage is likely to drop by 20% in season 2016-17 in Punjab and Haryana compared to the last season as the wary farmers opt for other Kharif crops after bearing heavy crop damage due to whitefly pest attack in the last season. 

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