Cotton complex remained under downside pressure on Monday on concerns over global demand, weak cotton yarn exports to China and higher output as forecast in the 3rd advance estimates. NCDEX Kapas as well as MCX Cotton futures settled 0.65% and 0.46% lower respectively. However lower level buying and fresh export enquiries supported prices at lower levels. Cotton Association of India has also revised its 2013-14 output marginally higher from its previous estimates.
In the domestic markets, although production is estimated higher, arrivals so far remain significantly lower compared to last year. This is because farmers were holding back their produce in anticipation of higher returns
For more details visit: http://www.capitalstroke.com/ or contact on 0731-3299704
0 comments :
Post a Comment