Feb 16, 2017 12:23 PM IST | Source: Moneycontrol.com
Expect Cotton prices to trade sideways to higher: Angel
According to Angel Commodities, expect cotton and kapas futures to trade sideways to higher on reports of lower domestic production and procurement by CCI may support prices.
Angel Commodities' report on Cotton
Cotton on MCX traded flat while kapas prices closed higher on NCDEX on Wednesday. The prices have been trading in a range as arrivals have improved in the physical market. However, good domestic and export demand from neighboring countries keeping the prices at higher levels.
We expect cotton and kapas futures to trade sideways to higher on reports of lower domestic production and procurement by CCI may support prices. However, the prices may correct from the current levels on improving supplies in the physical market.
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