Tuesday, 11 July 2017

EPIC RESEARCH NCDEX COTTON UPDATE OF 11 JULY 2017

Cotton trading range for the day is 20367-20847. Cotton prices pared gains on profit booking after prices seen supported due to uptick in demand from traders and stockists at the spot market. India's cotton output is expected to rise by 6% to 6.1 million tons which is likely to be the world's largest producer for the third consecutive season. In 2017-18 crop year, India cotton sowing rose in 7.18 million hectares compared to 6.78 million hectares a year ago. Cotton prices in spot market gained by 60.00 rupees and settled at 20470.00 rupees.

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