Cotton On MCX Settled Down By -0.1% At 20740

Cotton on MCX settled down by -0.1% at 20740 on higher arrivals in the mandis and higher demand. Prices of cotton were down as arrivals have picked up significantly from 140,000 bales to 180,000 bales in last 10 days keeping millers away from huge buying in anticipation of further fall in prices. USDA raised its monthly consumption forecast for cotton in India from 29.81 million bales to 30.45 million bales estimated domestic inventory at 14.86 million bales of 170 kg each down by 4.1% from the Jan month forecast.

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