After declining for five consecutive weeks, Cotton complex recovered from lower levels last week on forecast of below normal rains in the major cotton growing regions coupled with demand from the domestic mills. NCDEX Kapas as well as MCX Cotton futures settled 1.23% and 1.55% higher w-o-w. Prices have declined over the last few weeks on concerns over global demand, weak cotton yarn exports to China and higher output as forecast in the 3rd advance estimates coupled with weak overseas markets. Cotton Association of India has revised its 2013-14 output to 388.25 lakh bales.
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