Cotton complex recovered from lower levels on Monday on short coverings at lower levels coupled with weak monsoon and lower sowing. NCDEX Kapas as well as MCX Cotton settled 0.16% and 0.79% higher. Prices have traded on bearish note over the last few days on expectations of revival of monsoon coupled with concerns over global demand and higher output. 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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