Cotton Complex Closed Lower Due To Good Sowing Progress

Cotton complex closed lower due to good sowing progress as widespread rains in Gujarat and Maharashtra brighten the prospects on cotton production. NCDEX Kapas for Apr’17 closed 2.86% lower while MCX Oct’16 cotton closed lower by 2.95%. The prices were under pressure due to poor buying interest from textile mills as CCI has decided to sell procured cotton.

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