By admin       2018-04-04

Cotton prices have been volatile in a broad sideways range since the beginning of this year. The cotton futures contract on the Multi Commodity Exchange (MCX) has been trading sideways in a wide range of ₹19,300-21,300 per bale (of 170 kg). Within this range, the contract made a low of ₹19,850 per bale last week and has surged over three per cent from this low. It is currently trading at ₹20,570. The Cotton Association of India (CAI) revising down the production estimate for 2017-18 crop year to 362 lakh bales from 367 lakh bales estimated earlier is supporting the prices.

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