Cotton on MCX settled down by -0.44% at 20270 on profit booking after prices seen supported on fears of crop damage due to recent rainfall in major sowing belts of Gujarat. The agriculture ministry has projected India's 2016-17 cotton output at 33.21 million bales of 170 each up from 30.14 million bales in the previous year. 

For the current year CAB is likely to project higher output in its next meeting, which expected middle of this month, the official said. According to the data, Bangladesh imported 0.061 lakh bales of cotton from India in the past week (26 September -02 October, 2016). Other major importers were Pakistan, Japan and U.K. and their imported volumes were 0.008 lakh bales, 0.004 lakh bales and 0.002 lakh bales respectively.

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