MCX cotton down as arrivals rise, output seen higher.

Futures contracts of cotton on the MCX fell for the second consecutive session because of rise in arrivals in physical markets and expectation of higher output in 2017-18 (Oct-Sep). The most-active May contract of cotton was (1bale=170 kg), down 0.8% from the previous close. The arrivals of cotton in major spot markets across the country were pegged at 73,800 bales on previous close, higher than 69,200 bales on Thursday. cotton output in India, the largest producer, is estimated to rise 2% to 5.9 million tonne in 2017-18. IMD has forecast the southwest monsoon this year (Jun-Sep) to be normal at 96% of the long-period average, adding to the hopes of higher production of cotton and thus weighing on the sentiments.