EPIC RESEARCH NCDEX COTTON UPDATE OF 2 DECEMBER 2016

Cotton trading range for the day is 18977-19297. Cotton prices ended with gains due to rising demand in the domestic market. Though, news on Pakistan suspending cotton imports from India due to failed in fulfillment of phyto-sanitary certification, capped some gains. According to USDA, production in India is forecast at 26.5 million bales (5.77 mt), up marginally from 2015/16. Cotton prices in spot market gained by 40.00 rupees and settled at 18900.00 rupees.

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