Moneycontrol PRO
Upcoming Event:Join us for the exciting discussion with Danone on role of nutrition, protein in working professionals’ quality of life on July 31, 3pm.

Cotton prices to trade sideways to positive: Angel Commodities

According to Angel Commodities, MCX Jul Cotton closed lower last week tracking weak trend in International prices. However, reports of good exports and slow sowing progress in the Country are keeping prices higher compared to last year prices.

July 23, 2018 / 12:04 PM IST
Cotton

Cotton


Angel Commodities' report on Cotton


MCX Jul Cotton closed lower last week tracking weak trend in International prices. However, reports of good exports and slow sowing progress in the Country are keeping prices higher compared to last year prices. As per Commerce ministry data, cotton exports in May surged by 27.6% to 5.7 lakh bales as compared to last year.  Cotton acreage till last week was down by 11 % on year to 92.7 lakh hac compared to 104.8 lakh last year, according to the farm ministry data.

Outlook
Cotton futures are expected to trade sideways to positive on improved demand and increase in MSP by government. However, weak international prices and expectation of higher acreage of cotton due to good prices may keep prices sideways.

For all commodities report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

first published: Jul 23, 2018 12:04 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark