Cotton Complex Posted Sharp Increase On Thursday

Cotton complex posted sharp increase on Thursday on lower supplies of cotton in domestic market. CCI has decided to sell procured cotton to textile mills. NCDEX Kapas for Apr’17 closed 3.99% higher while MCX Jul’16 cotton closed higher by 2.74%. To increase supplies, government decided that the Cotton Corporation of India (CCI) will sell its existing stock purchased under minimum support price to MSME spinning mills on account of recent spurt in cotton prices.

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