Cotton complex traded on a positive note on Monday on forecast of below normal rains coupled with weak sowing, demand from the domestic mills and positive overseas markets. NCDEX Kapas as well as MCX Cotton futures settled 2.18% and 1.67% higher. However, concerns over global demand coupled with higher output last year and weak cotton yarn exports to China capped sharp gains. Cotton Association of India has revised its 2013-14 output to 388.25 lakh bales.
According to the Ministry of Agriculture, sowing of cotton is reported at 1.7 mn ha as against 1.6 mn ha last year.
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