Cotton On MCX Settled Down By -0.5% At 19950

Cotton on MCX settled down by -0.5% at 19950 amid good sowing progress in India, China and the US. According to the official figures, cotton has been sown on 46.10 lakh hectares, 2017 across the country compared to 19.07 lakh hectares during the same period previous year. Acreage under cotton has jumped around 27 per cent as farmers in Haryana, Punjab and Karnataka have increased the area on better price during the previous season.

The Andhra Pradesh government is offering packages to farmers in a bid to dissuade them from growing cotton in 2017-18 for improved soil management and also to curb the menace of pink bollworm, officials said. The southern Indian state government plans to restrict cotton farming in 605,000 hectares during 2017-18 after curbing planting in 463,000 hectares a year ago, said Venkateswara Rao, Deputy Director Planning, Department of Agriculture, Government of Andhra Pradesh.

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