EPIC RESEARCH NCDEX COTTON UPDATE OF 12 MAY 2017

Cotton trading range for the day is 20463-20863. Cotton prices ended with losses due to reports of higher output from major producing belts. Sowing of cotton has begun on a strong note in the key growing regions of North India for the 2017-18 season. USDA forecasts India cotton production for 2017/18 at 6.01 mt, up nearly 6% while area is forecast at 11.5 million hectares. Cotton prices in spot market gained by 30.00 rupees and settled at 20230.00 rupees.

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