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India's new cotton planting progress is still 14.7% behind the same period last year
According to statistics, as of July 13, India’s new cotton planting area has reached 7.75 million hectares, which is still 14.7% behind the same period of the previous year. This week, the Indian monsoon rains will remain normal, and Gujarat will see good monsoon rains, which will help speed up the planting of new cotton. According to the latest report of the Indian Cotton Company, as of July 17, the cumulative number of Indian cotton listed on the market reached 35.08 million bales (1 bale u003d 170 kg), an increase of 4.5% year-on-year. Last week (July 16-22), the Indian MCX futures October contract price rebounded to an important support level of 23,400-23,450 rupees/pack. It is expected to break through 24,000 rupees/pack in the next few days, and test 24250-24300 rupees/pack Interval. Article Keywords: India Cotton Planting