EPIC RESEARCH NCDEX COTTON UPDATE OF 02 MAY 2017

Cotton trading range for the day is 20533-20993.Cotton prices dropped on higher output estimated by agencies amid weak demand.Cotton output in India may rise by 4% to 5.9 billion kilograms in 2016-17 crop season compared to last year.Domestic cotton arrivals in the first 25 days of April were higher by 59% at 232,000 tons compared to 146,000 tons last year.Cotton prices in spot market dropped by 220.00 rupees and settled at 20410.00 rupees.

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