Cotton Complex Traded Closed Higher

Cotton complex traded closed higher for the last week due to lower supplies and expectation of lower cotton production in the country. Last week, NCDEX Kapas for Apr’17 closed 1.11% higher while MCX Oct’16 cotton closed higher by 1.94%. India, which was the largest producer of cotton in 2014-15, has seen the crop stock dwindle, leading to competition between exporters and 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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