MCX Cotton Traded In A Narrow Range And Closed Lower




MCX Cotton traded in a narrow range and closed lower on Thursday as market participants’ book profits at current levels. As per farm ministry, incidents of pink bollworm attacks have been reported in many parts of key cotton growing areas in south India and Gujarat. However, good progress in cotton sowing in the country capped further gain. As per latest data from Agricultural Ministry, cotton is planted in 111.2 lakh hectares (l ha) till last week, higher 20% compared to last year acreage of 92.3 lakh ha for same period.

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