Cotton On MCX Settled Up By 0.2% At 20050



Cotton on MCX settled up by 0.2% at 20050 on rising demand from traders and stockists at the spot market. However, upside seen limited on higher sowing of the crop on robust monsoon rains amid weak demand from millers. This year, cotton output is expected to rise on higher sowing which will hit the prices in the coming week. The fibre was planted on 4.61 million hectares till Jun 30, more than double than the 1.9 million hectares planted in the same period a year ago.

The fibre was planted on 4.61 million hectares till Jun 30, more than double than the 1.9 million hectares planted in the same period a year ago. Moreover, cotton stock levels is higher in the country due to surplus imports and subdued demand which may pressurize prices in the coming term. India imported 2.5 million bales as against 2.2 million bales last year, Cotton Association Of India (CAI) data showed.

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