Cotton On MCX Settled Down By -0.35% At 19760

Cotton on MCX settled down by -0.35% at 19760 as industrial demand is muted on want of good quality cotton. Besides, productivity is likely to be higher during the 2016-17 season due to the better weather conditions across all cotton-growing regions of the country also fuelled the downtrend. During the off-season, CCI auction its existing stock purchased under minimum support price to MSME spinning mills. Cotton planting in the country is likely to fall to the lowest in seven years in the 2016-17 due to shift to pulses and oilseeds by farmers.

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