Thursday, 8 June 2017

EPIC RESEARCH NCDEX COTTON UPDATE OF 08 JUNE 2017

Cotton trading range for the day is 20510-20830. Cotton prices dropped on reports good progress of cotton in north India. As per latest data from Agricultural Ministry, cotton is planted in 12.18 lakh hectares (l ha) as on now, higher by 29.7% compared to last year acreage of 9.40 l ha.As per ICAC, Cotton area in India is forecast to expand by 7% to 11.3 million hectares, and assuming yield is similar to the 4-year average. Cotton prices in spot market dropped by 190.00 rupees and settled at 20310.00 rupees.

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