Cotton Gained On Short Covering After Prices Dropped Due To Improved Sowing

Cotton trading range for the day is 19500-20440.

Cotton gained on short covering after prices dropped due to improved sowing, higher imports and weak international prices.

Indian cotton production for the 2019-20 season is seen at 29 million 480 lb bales, down 1% from earlier estimates.

Area in Gujarat under cotton is higher as on 29-Jul-19 at 23.76 lakh ha compared to 25.5 lakh ha last year.

Cotton prices in spot market gained by 100.00 rupees and settled at 20020.00 rupees.

For more information ✆ +91- 6232578593 or visit www.moneymarketmanthan.com