Cotton Complex Traded Mixed On Monday



Cotton complex traded mixed on Monday as new season cotton arriving in the physical market. NCDEX Kapas for Apr’17 closed 0.17% down while MCX Oct’16 cotton closed higher by 0.25%. India, which was the largest producer 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 in 2015- 16. In its first estimate, the Cotton Association of India (CAI), the apex trade body of the fibre crop, has pegged the output for the year starting October 2016 at 336 lakh bales of 170 kg each in line with the production in the previous year.

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