Cotton complex traded on a mixed note. Kapas declined 0.36% higher cotton sowing, expectations of record output, and concerns over global demand. However, MCX cotton gained 0.77% on short coverings as well as positive overseas market.
The textile commissioner has said that India is set for yet another year of record output and may take over china as the largest producer.
Cotton Association of India has revised its 2013-14 output to 395 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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