Cotton On MCX Settled Down



Cotton on MCX settled down by -0.69% at 15790 on late profit booking after prices gained earlier on lower supplies in domestic markets. The United States department of agriculture (USDA) trimmed India production for 2015-16, the USDA said in its World's Agriculture Supply and Demand Estimates (WASDE). India cotton output estimates for 2015-16 stood at 26.80 million bales, lower from the previous month's forecast of 27.80 million bales, USDA said in a report. The Cotton Advisory Board (CAB) cut India's 2015-16 cotton output estimates by 3.6% on lower output from Punjab, Gujarat and Karnataka.

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