Capital stroke NCDEX Update : COTTON 19-AUG-2014

Cotton complex recovered traded on a negative note on Monday on good monsoon and higher cotton sowing. Weak overseas markets, concerns over global demand and record high output also pressurized prices. NCDEX Kapas settled as well as MCX cotton settled 1.12% and 1.09% lower.

Cotton Association of India has revised its 2013-14 output to 395 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.

Outlook

Cotton complex are expected to trade on a negative note. Increased planting, favorable climatic conditions, global demand concerns and comfortable supplies may continue to pressurize prices. however, lower level demand may cushion the downside.


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