EPIC RESEARCH NCDEX COTTON UPDATE OF 23 MAY 2017

Cotton trading range for the day is 20553-21133. Cotton prices ended with losses tracking weakness in spot demand due to higher sowing. Cotton area is expected to rise at least 10-15% to over 11.5 hectares in 2017-18 crop season against 10.5 hectares last year. Government is considering Rs 160 per quintal to Rs 4,320 in cotton Minimum Support Price (MSP) for 2017-18 kharif season beginning July. Cotton prices in spot market dropped by 20.00 rupees and settled at 20520.00 rupees.



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