Cotton Futures On MCX Improved A Little



Cotton futures on MCX improved a little but weigh down on reports of good progress of cotton in north India. As per latest data from Agricultural Ministry, cotton is planted in 8.93 lakh hectares as on 19th May, higher by 32% compared to last year acreage for same period.

Cotton planting begins in the northern Indian states of Punjab, Haryana, and Rajasthan in early May. Moreover, there are ample supplies this season through imports and good stocks available with the farmers. USDA forecasts India cotton production for 2017/18 at 6.01 mt, up nearly 6% while area is forecast at 11.5 mhac, up 10% from last year.

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