Friday 27 June 2014

Capital stroke NCDEX Update : COTTON 27 June 2014




Cotton complex traded on a negative note on Thursday on concerns over global demand coupled with higher output last year and weak cotton yarn exports to China also kept prices under check. NCDEX Kapas as well as MCX Cotton futures settled 0.56% and 0.44% lower. Prices gained over the last few sessions on forecast of below normal rains coupled with weak sowing, demand from the domestic mills and positive overseas markets. Cotton Association of India has revised its 2013-14 output to 388.25 lakh bales.

The CCEA has increased MSP for cotton by Rs. 50 to Rs.3,750 for medium staple variety and to Rs.4,050 for long staple variety.

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