Cotton Complex Traded Mixed On Monday

Cotton complex traded mixed on Monday due to subdued new season cotton arrivals and lower demand from the industrial buyers on lack of demand from textile industries. NCDEX Kapas for Apr’17 closed 1.04% higher while MCX Dec’16 cotton closed 0.57% lower. Cotton production prospects are good for market year 2016/17 though arrivals are delayed. 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.

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