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Cottonseed Futures Plummet As Market Eyes Gujarat Cotton Crop

Cottonseed Futures Plummet As Market Eyes Gujarat Cotton Crop

June 30, 2022 11:54 IST | capital market
The NCDEX Cottonseed oilcake futures slipped, extending the recent spate of losses as markets are eying a spurt in the sowing of Cotton in Gujarat - the largest producer of the commodity in country with more than 25 percent share in Indias total production. As per the Cotton Association of India (CAI) estimate, cotton production in the country is expected at 33.51 million bales (170 kg per bale) for the season 2021-22 (October 2021 to September 2022) compared to previous seasons 35.30 million bales. The benchmark NCDEX Cottonseed oilcake futures fell to Rs 2575 per quintal, down 0.81% on the day to linger around contract lows for the commodity. Powered by Commodity Insights

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