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Monday, 2 June 2014

Capital stroke NCDEX Update : COTTON 2 June 2014

Cotton complex witnessed a volatile week. Prices declined in the initial half of the week on weak overseas markets, concerns over global demand, weak cotton yarn exports to China and higher output as forecast in the 3rd advance estimates. However, prices bounced back from lower levels on short coverings, lower level buying and fresh export enquiries. NCDEX Kapas settled 2.26% higher while MCX Cotton futures settled 1.27% lower w-o-w. Cotton Association of India has also revised its 2013-14 output marginally higher from its previous estimates.

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