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Published
Jan 13, 2010
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India kapaskhali ends higher on cotton exports

By
Reuters
Published
Jan 13, 2010

MUMBAI, Jan 13 (Reuters) - India's cottonseed oilcake, or kapaskhali, futures ended higher on Wednesday 13 January on rising exports of cotton though slack local demand limited the gains, analysts said.



The January contract NCDF0 ended at 1,181.5 rupees per 100 kg, up 0.38 percent.

"Moisture content has increased in the fresh arrivals due to showers and cloudy weather in some parts of the state," said Dilip Agrawal, a trader from Khargone, Madhya Pradesh.

Kapaskhali, a by-product of cottonseed, is used as cattle feed and largely consumed in the north-western states of India.

Indian traders have exported 428,076 bales of raw cotton of 170 kg each in the first two months of the 2009/10 marketing year, up 19 percent from a year ago.

The cotton year is from October to September.

India's cotton exports in 2009/10 are expected to increase 57 percent to 5.5 million bales, according to A.B. Joshi, textile commissioner and chairman of Cotton Advisory Board (CAB).

(Reporting by Meenakshi Sharma and Sourav Mishra; Editing by Prem Udayabhanu )

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