EPIC RESEARCH NCDEX COTTON UPDATE OF 19 JUNE 2017

Cotton trading range for the day is 19593-20633. Cotton prices gained on short covering after prices dropped amid weak global market and hopes of good monsoon rains. As per the latest report by USDA, India is expected to produce 6.09 million tonnes of cotton in 2017-18. Global cotton production is expected to rise by 8.25% from 23.08 million tonnes in 2016-17 to 24.98 million tonnes in 2017-18. Cotton prices in spot market dropped by 70.00 rupees and settled at 20340.00 rupees.



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