Cotton On MCX Settled Up By 1.58% At 19900



Cotton on MCX settled up by 1.58% at 19900 due to pickup in demand from domestic mills. Besides, cotton area in Punjab and Haryana has declined 27 per cent to 7.56 lakh hectares in the 2016-17 crop year as farmers shifted to other crops after incurring huge losses due to whitefly pest attack last year also fuelled the uptrend. Cotton sowing for year 2016-17 has lagged behind by against the last year due to delay in monsoon whereas estimation of fall in cotton acreages could keep supply outlook weaker in upcoming season too.

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