Cotton On MCX Settled Up By 0.15% At 20630

Cotton on MCX settled up by 0.15% at 20630 as prices recovered on low level buying. The cotton arrivals in the physical markets have seen improving during last week compared to previous weeks but still the normal arrivals have not seen Gujarat and Maharashtra this season. As on Jan 30, 2017 about 146.5 lakh bales have arrived in the market. Maharashtra is leading the arrivals figures at 40.7 lakh bales followed by Gujarat at 31.8 lakh bales. In Dec 2016, India exported about 60,850 tonnes cotton to China, up 89% yoy. China imported highest cotton from India than from any other country in the month of December 2016. Moreover, weekly export sales data ended Jan. 26, net upland sales of 328,700 RB for 2016/2017 were down 28% from the previous week

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