NCDEX cotton at 6-month high on crop damage concerns.

Futures contract of kapas on NCDEX hit a six-month high due to concerns over damage to standing crop from pink bollworm infestation in Maharashtra. Of the total acreage in Maharashtra, around 1.3 mln ha is likely to have been affected by the pink bollworm attack. The major damage has been in Jalna, Parbhani, Aurangabad, Nanded, Jalgaon and Beed, the key producing districts. Maharashtra is the second largest producer of cotton. The cotton acreage in Maharashtra is estimated at around 4.2 mln ha in 2017-18, compared with 3.8 mln ha last year