Cotton On MCX Settled Down -0.14% At 21520

Cotton on MCX settled down -0.14% at 21520 on profit booking after prices gained delayed arrival of monsoon is affecting the cotton acreage in the key growing regions of Central and South India. According to the International Cotton Advisory Committee (ICAC), global area under cotton is expected to contract by one per cent to 31 million hectares in 2016-17, the area in India is expected to expand by one per cent to 12 million hectares in 2016-17. Globally, the average yield is projected to improve by five per cent to 735 kg per hectare, which would cause production to increase by five per cent to 23 million tons.

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