Wednesday, 24 May 2017

EPIC RESEARCH NCDEX COTTON UPDATE OF 24 MAY 2017

Cotton trading range for the day is 20573-20833.Cotton dropped as pressure seen as cotton area is expected to rise at least 10-15% to over 11.5 hectares in 2017-18 crop season. Farmers have been encouraged on expectation of higher prices and improved yields last year. Cotton Association of India (CAI) predicted fibre consumption to jump to 29.5 million bales in 2016-17 crop season against 29 million bales. Cotton prices in spot market dropped by 10.00 rupees and settled at 20510.00 rupees.

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