EPIC RESEARCH NCDEX COTTON UPDATE OF 27 OCTOBER 2017

Cotton trading range for the day is 18150-18650. Cotton prices dropped on expectation of higher output in the crop year 2017-18. Cotton Association of India (CAI) forecast cotton production for 2017-18 at 3.75 million bales.Recently Gujarat state government has announced bonus to cotton farmers by Rs 500 per quintal on the Minimum Support Prices (MSP). Cotton prices in spot market dropped by 50.00 rupees and settled at 18740.00 rupees.

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