Cotton Complex Traded Higher On Tuesday



Cotton complex traded higher on Tuesday due to good demand for the new season crops. NCDEX Kapas for Apr’17 closed 0.77% higher while MCX Dec’16 cotton closed 0.74% higher. 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 427 lakh bales as compared to last year supplies due less carry over stock and imports. 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.

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