Cotton Dropped On Profit Booking After Prices Gained Amid

Cotton trading range for the day is 20560-20880.

Cotton dropped on profit booking after prices gained amid reports of lower production from major producing regions during current year.

Cotton Association of India cuts 2018-19 production estimate by 5.25 lakh bales this month to 335 lakh bales for the year 2018-19.

The CAI has reduced the crop estimate for Gujarat by 1.50 lakh bales and for Maharashtra and Telangana by 2 lakh bales each.

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