Capital stroke NCDEX Update : COTTON 22 MAY 2014

Cotton complex recovered from lower levels on Wednesday on extended short coverings coupled with declining arrival pressure and fresh cotton export enquiries. NCDEX Kapas as well as MCX Cotton futures settled 0.16% and 0.2% higher. Prices have declined over the last few days on weak cotton yarn exports to China coupled with weak overseas markets and higher output as forecast in the 3rd advance estimates. Cotton Association of India has revised its 2013-14 output marginally higher from its previous estimates.

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