Cotton on MCX settled down by -0.27% at 18430 tracking weakness in spot demand on higher acreage in the country. Cotton acreage has also increased in Guntur district of Andhra Pradesh. Further, if the same situation continues, the Agriculture Marketing Department expects farmers to get 2.8 million bales yield during the current season. Farmers from other crops shifted to cotton cultivation for better prices as centre fixes a price of Rs 4,320 per quintal this year as against Rs 4,160 last year, which has also kept cotton prices under pressure.

Trading Ideas:

* Cotton trading range for the day is 18337-18577.

* Cotton prices ended with losses tracking weakness in spot demand on higher acreage in the country.

* Cotton acreage has also increased in Guntur district of Andhra Pradesh.

* Cotton has been sown on 121.51 lakh hectares, 2017 across the country compared to 102.23 lakh hectares during the same period previous year.

* Cotton prices in spot market dropped by 180.00 rupees and settled at 19260.00 rupees.

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