EPIC RESEARCH NCDEX COTTON UPDATE OF 05 MAY 2017

Cotton trading range for the day is 20403-20883. Cotton prices gained on short covering after prices dropped amid the reports of higher supplies this season th. Cotton output in Haryana, among the largest producers of the cash crop, is estimated to surge 106% on year to 2.04 mln bales in 2016-17. India's cotton imports during the current crop year (Oct-Sep) may jump 36% on strong rupee and poor quality of domestic cotton. Cotton prices in spot market dropped by 150.00 rupees and settled at 20330.00 rupees.

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