MCX cotton down as arrivals up, output seen higher.

Futures contracts of cotton on the MCX inched lower today because of a rise in arrivals in wholesale markets and expectations of higher output in 2017-18 (Oct-Sep) On MCX, the April contract of cotton was at 20,550 rupees per bale (1bale = 170 kg), down 0.9% from previous close. Arrivals of cotton in major spot markets across the country were pegged at 88,800 bales on Friday, higher than 82,800 bales on Thursday. According to the International Cotton Advisory Committee, cotton output in India, the largest producer, will likely rise 2% on year to 5.9 million tonne in 2017-18. Cotton futures on NCDEX are expected to trade mixed, with a negative bias during the week.