October MCX cotton hits 1-week high on crop damage fears.

The October contract of cotton on the MCX hit a one-week high of amid concerns over crop damage in Maharashtra and Gujarat, and improved industrial buying. The contract traded at 19,020 rupees per bale, up 0.8% from the previous close. Pink bollworm attacks have damaged cotton crop in parts of Maharashtra and Gujarat this kharif season so far. Rise in cotton acreage in the ongoing kharif season, however, capped any further gains. So far, farmers have planted nearly 11.4 mln ha of cotton in the country, up 18.5% on year,