Cotton complex prices closed little lower on Wednesday due to ease in arrivals of seed cotton (Kapas) in the physical market coupled with the news on Pakistan suspending cotton imports from India due to failed in fulfillment of phyto-sanitary certification,. NCDEX Kapas for Apr’17 closed 0.05% down while MCX Nov’16 cotton closed 0.67% down. For the current season, cotton arrivals in the country are pegged at 45.43 lakh bales (lb) as on 27 November, 2016. As per Agmarknet data, during November about 34 lakh bales has arrived in the country. According to USDA, production in India is forecast at 26.5 million bales (5.77 mt), up marginally from 2015/16. A rebound in India’s yield is expected to offset a 10-percent reduction in cotton area this season.
For
MCX Tips NCDEX Tips ✆ – 0731-6642300
No comments:
Post a Comment