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.

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Cotton Prices Gained On Reports Of Lower Than Expected Production Prospects

Cotton trading range for the day is 20420-20780.

Cotton prices gained on reports of lower than expected production prospects in the country.

India's cotton production is expected to dip by 7% due to insufficient rainfall in major growing regions.

ICAC stated that India's cotton production is expected to dip by 7% due to insufficient rainfall in major growing regions.

Cotton prices in spot market dropped by 130.00 rupees and settled at 20240.00 rupees.

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Turmeric Prices Gained On Short Covering Due To Expectations

Turmeric trading range for the day is 6402-6598.

Turmeric prices gained on short covering due to expectations of rise in demand and concerns over crop yield.

However, upside seen limited on expectations of increase in arrivals at the spot markets in the coming days with better moisture content.

In Telangana, turmeric sowing was reported at 47,791 hectares as compared to 44,956 hectares in the corresponding period last year.

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Jeera Prices Remained Under Pressure Due To Positive Crop

Jeera trading range for the day is 16180-16660.

Jeera prices remained under pressure due to positive crop prospects due to favourable weather conditions.

However, downside seen limited on reports of deficient rainfall in key producing region of Gujarat like Saurashtra and Kutch.

NCDEX accredited warehouses jeera stocks dropped by 51 tonnes to 260 tonnes.

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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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