Cotton complex prices closed higher on Tuesday as market participants are expecting good demand for quality cotton from and ginners and domestic textile mill. Recently, cCtton Advisory Board (CAB), estimated higher cotton production and lower exports in the 2016-17 season. NCDEX Kapas for Apr’17 closed lower by 0.78% while MCX Oct’16 cotton closed lower by 1.56%.As per CAB, India's cotton output is seen at 351 lakh bales (1 bale = 170 kg), up 4% from 338 lakh bales a year ago due to good monsoon and minimum pest infestation. Cotton area is down by 11.6% at 105.6 lh against 116 lh last year. Despite less area under cotton, a good monsoon is expected to rescue the 2016-17 production. People in the industry are estimating 355 lakh bales (170 kg each) for the season 2016-17 (October- September), as against the government’s first estimate of 321.2 lakh bales.
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