Cotton Complex Closed Lower On Tuesday

Cotton complex closed lower on Tuesday on technical corrections. However , reports of lower supplies from new season crop and expectation of lower cotton production in the country may support prices at higher lev els . NCDEX Kapas for Apr’17 closed 0. 38 % lower while MCX Oct’16 cotton closed down by 0.34 %. India, which was the largest prod ucer of cotton in 2014 - 15, has seen the crop stock dwindle, leading to competition between exporters and the textile industry, which has been forced to import at the end of the season. India’s exports will be at their lowest level since 2008/09 falling 30 %or 1.9 million bales.

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