Cotton Complex Closed Higher On Wednesday

Cotton complex closed higher on Wednesday on anticipation of good domestic demand as the arrivals in physical market is dwindling as market prices are down. For the current season, cotton arrivals in the country is expected to have reached about 20 % for total expected arrivals of 350 lakh bales at 68.25 lakh bales (lb) as on 15 Dec, 2016. As per latest release by CAI, the total supplies of cotton in the domestic market during 2016/17 will be lower at 408 lakh bales compared to last year supplies of 427 lakh bales due less carry over stock and imports.

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