Cotton Prices Ended With Losses

Cotton prices ended with losses on profit booking after prices gained on weak sowing prospects in domestic markets. 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. About cotton sowing stood lower at 1.9 million hectare as against 3.48 million hectares a year ago. Larger acreages of cotton are likely to shift to other cash crop especially pulses due to better realization expectations.

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