7/17/2018 03:17:00 PM
- Cotton trading range for the day is 22213-23133.
- Cotton dropped on profit booking after prices gained due to uptick in demand from domestic mills at the spot market.
- Cotton acreage was down by 15% on year to 77.5 lakh hac compared to 90.9 lakh ha las year, according to the farm ministry data.
- Market participants are expecting higher imports in coming months as government increase minimum support prices for cotton by 26-28%.
- Cotton prices in spot market gained by 210.00 rupees and settled at 23170 rupees.
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