EPIC RESEARCH NCDEX COTTON UPDATE OF 07 AUGUST 2017

Cotton trading range for the day is 18430-18670. Cotton ended with gains due to crop damage by pink bollworm attack in the early stages of cotton in major producing belts of Maharashtra. As per latest data from Agricultural Ministry, cotton is planted in 111.2 lakh hectares (l ha) till last week, higher 20%. India’s cotton output in the forthcoming 2017-18 season starting October is seen increasing by 10-15 per cent. Cotton prices in spot market dropped by 40.00 rupees and settled at 20430.00 rupees.

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