Cotton complex traded on a mixed note on Tuesday. Expectations of a monsoon revival coupled with concerns over global demand and higher output pressurized prices. However, lower sowing coupled with below normal rains till date supported prices at lower levels. NCDEX Kapas settled 0.36% lower while MCX Cotton futures settled 0.41% higher. Cotton Association of India has revised its 2013-14 output to 388.25 lakh 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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