Cotton On MCX Settled Down By -0.1% At 20390

Cotton on MCX settled down by -0.1% at 20390 on profit booking after prices gained amid increasing prospects of higher imports and improved demand from bulk consumers. The production of cotton is expected to touch around 345 lakh bales during 2016-17 as compared to around 338 lakh bales produced in 2015-16 crop year. Cotton Association of India (CAI) expects that on account of better weather conditions across all cotton growing regions of the country there will be an improvement in productivity.

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