EPIC RESEARCH NCDEX COTTON UPDATE OF 11 MAY 2017

Cotton trading range for the day is 20540-20820. Cotton prices ended with small gains on short covering after prices dropped due to reports of rising supplies from major producing belts. According to 3rd advance estimates for 2016/17, higher productivity of Cotton has resulted into higher production of 32.51 million bales. According to CCI, about 302 lakh bales of cotton arrivals were recorded till 4th May in the country. Cotton prices in spot market dropped by 30.00 rupees and settled at 20200.00 rupees.

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