EPIC RESEARCH NCDEX COTTON UPDATE OF 24 AUGUST 2017

Cotton trading range for the day is 18313-18653.Cotton gained on crop damages in major growing areas of the country. Prices also seen supported crop damages due to pink bollworm attack in Gujarat and Maharashtra and whiteflies in Punjab and Haryana. Out of the estimated acreage, 20% area is reported to be affected with the worm that damages the bolls of the cotton plant. Cotton prices in spot market dropped by 50.00 rupees and settled at 20280.00 rupees.

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