Cotton On MCX Settled Up By 0.7% At 20160

Cotton on MCX settled up by 0.7% at 20160 tracking firmness in spot demand and lower arrivals in local mandis. Total of 12.45 million bales have arrived until Jan 17 during the 2016-17 marketing season, this is 7.1% below the arrivals in the same period last year, the data published by Cotton Corporation of India (CCI) said. Meanwhile, The National Tariff Commission (NTC) of Pakistan has imposed variable counter regulatory duty on import of fine yarn from India, which was previously subsidised. In the 2016-17 cotton marketing year, US cotton exports are likely to increase by 35 per cent.

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