EPIC RESEARCH NCDEX COTTON UPDATE OF 19 April 2017

Cotton trading range for the day is 20520-20960. Cotton prices gained on short covering after prices dropped due to higher arrivals and sufficient stock levels in the country. The monthly data released by the USDA showed estimated India stocks ending 2016/17 increase by more than 5.02% to 160 lakh bales. As per USDA forecast, India’s 2017/18 cotton production forecast increase by 3.7% to 36.5 million 170 kg bales/6.2 mt. Cotton prices in spot market dropped by 20.00 rupees and settled at 20680.00 rupees.

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