MCX cotton up on supply disruptions, global cues.

Futures contracts of cotton on the MCX up today due to delay in fresh supplies from Punjab and Haryana because of heavy rains. Cotton exports from India might increase because of a likely damage to crop tn the US due to Hurricane Harvey. Worries of lower output of cotton in the country are also seen creating positive sentiment, analysts said. National Bulk Handling Corp Pvt Ltd expects India’s cotton production to fall nearly 4% on year to 31.8 mln bales in 2017-18 (Oct-Sep). Heavy flooding in Gujarat’s key cotton growing regions led to major losses in the yield. Replanting of cotton in some of the flood-hit areas has also weakened prospects of the crop.