EPIC RESEARCH NCDEX COTTON UPDATE OF 9 JANUARY 2017

Cotton trading range for the day is 19790-20130. Cotton dropped on profit booking after prices gained on improved demand from bulk consumers and lower supplies in local mandis. A total of 122,500 bales arrived in various mandis as against 123,000 bales arrived. The production of cotton is expected to touch around 345 lakh bales during 2016-17. Cotton prices in spot market gained by 170.00 rupees and settled at 19690.00 rupees.

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