EPIC RESEARCH NCDEX COTTON UPDATE OF 12 JULY 2017

Cotton trading range for the day is 20127-20687. Cotton prices ended with losses on estimation of higher output. In 2017-18 crop year, India cotton sowing rose in 7.18 million hectares compared to 6.78 million hectares a year ago. Moreover, world cotton production is estimated to rise by 7% to 24.6 million tons in 2017-18 crop year compared to 22.9 million tons in 2016-17. Cotton prices in spot market dropped by 120.00 rupees and settled at 20350.00 rupees.

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