MCX cotton rises on firm cues from global markets.

Futures contracts of cotton on the MCX are up over 1%, taking cues from global markets. Higher-than-projected cotton exports by the US resulted in a surge in prices at the global level. It is expected that the US has surpassed the projected total exports of 14.5 mln bales (1 bale = 170 kg) for 2016-17. Increased concerns over weather in India, the world’s largest cotton Producer, also supported cotton derivatives.