Cotton complex traded on a negative note on Thursday on expectations of revival of monsoon coupled with concerns over global demand and record high output. NCDEX Kapas and MCX Cotton settled 1.27% and 0.21% lower. Cotton Association of India has revised its 2013-14 output to 395lakh bales.
The CCEA has increased MSP for cotton by Rs. 50 to Rs.3,750 for medium staple variety and to Rs.4,050 for long staple variety.
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