Cotton On MCX Settled Up By 0.1% At 20440

Cotton on MCX settled up by 0.1% at 20440 due to lower output estimates for 2016-17. India's cotton output for 2016-17 is expected to fall by 2% on delayed arrival of monsoon rains in the country, US department of agriculture (USDA) said in its World Agricultural Supply and Demand Estimates (WASDE) report. India's fibre output for 2016-17 estimated at 26.50 million bales (1 bale=480lb) as compared to previous month's forecast of 27 million bales. Cotton production in India, the world's top grower, will recover less rapidly than previously thought, as weak rains limit yield recovery, US officials say.

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