EPIC RESEARCH NCDEX COTTON UPDATE OF 03 MAY 2017

Cotton trading range for the day is 20310-20890.Cotton prices dropped as demand for the fibre had plunged owing to farmers offloading the poorer quality of cotton initially.The domestic cotton arrivals in the first 25 days in April are higher by 59% on year at 2.32 lakh tonnes (lt) compared to 1.46 lt last year.As per CAI, the arrivals during March 2017 are higher than that of the corresponding month during last year.Cotton prices in spot market gained by 80.00 rupees and settled at 20490.00 rupees.

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