EPIC RESEARCH NCDEX UPDATE OF COTTON 22 November 2016

Cotton trading range for the day is 19097-19637. Cotton prices dropped on profit booking after prices gained on lower supplies in local mandis due to demonetization. The Cotton Association of India (CAI) hiked forecast of cotton crop for the 2016-17 by 2% to 34.5 million bales as compared to previous year. USDA raised United States production forecast for 2016-17 to 16.16 million bales compared to previous estimates of 16.03 million bales. Cotton prices in spot market dropped by 60.00 rupees and settled at 19280.00 rupees. To get reliable and quality NCDEX Tips ✆ – 0731-6642300