Cotton prices remained under pressure due to expectation of supply pressure good demand from new season crops in coming weeks.
As per latest estimate by government, cotton is planted in 105.6 lh in the country, down by 11.6% against 116 lh last year.
According to USDA, production in India is forecast at 26.5 million bales (5.77 million tonnes), up marginally from 2015/16.
Cotton prices in spot market dropped by 640.00 rupees and settled at 19410.00 rupees.
For more information and accurate MCX Tips, NCDEX Tips ✆ – 0731-6642300
Connect with our social media sites
No comments:
Post a Comment