Cotton Complex Prices Closed Little Lower

Cotton complex prices closed little lower due to ease in arrivals of seed cotton (Kapas) in the physical market. NCDEX Kapas for Apr’17 closed 0.59% down while MCX Nov’16 cotton closed 0.41% down. For the current season, cotton arrivals in the country are pegged at 45.43 lakh bales (lb) as on 27 November, 2016. As per Agmarknet data, during November about 34 lakh bales has arrived in the country. According to USDA, production in India is forecast at 26.5 million bales (5.77 mt), up marginally from 2015/16. A rebound in India’s yield is expected to offset a 10-percent reduction in cotton area this season.

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