Cotton Complex Slump On Tuesday

Cotton complex slump on Tuesday as demand is slowing down from the textile industry waiting for new season crop in October NCDEX Kapas for Apr’17 closed 3.39% lower while MCX Oct’16 cotton closed lower by 3.99%. The prices were under pressure due to poor buying interest from textile mills as CCI has sold its cotton stocks. To increase the physical 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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