EPIC RESEARCH NCDEX COTTON UPDATE OF 26 JULY 2016

Cotton trading range for the day is 21327-21987.Cotton prices dropped on profit booking after prices gained on lower output estimates of fibre and weak sowing prospects due to delayed monsoon.India 2016-17 cotton kharif sowing till Jul 22 stood at 8.68 million hectare as compared to 9.95 million hectare same period year ago.Cotton sowing in Gujarat, major fibre producing state, slumped by 24.80% to 1.76 million hectares up-till now on late arrivals of monsoon.Cotton prices in spot market dropped by 230.00 rupees and settled at 22620.00 rupees.For more information ✆ - 0731-6642300 Visit http://www.epicresearch.co