Cotton futures traded up on MCX due to the fresh demand from domestic mills and also good export demand. Moreover, demand for quality cotton improved from millers over the last few days and prices are likely to rise further and declining arrivals due to unseasonal weather in Gujarat mainly pushed up cotton prices in futures markets.
The contract for April delivery was trading at Rs 20480.00, up by 0.29% or Rs 60.00 from its previous closing of Rs 20420.00. The open interest of the contract stood at 2759.00 lots.
The contract for May delivery was trading at Rs 20790.00, up by 0.29% or Rs 60.00 from its previous closing of Rs 20730.00. The open interest of the contract stood at 5247.00 lots on MCX.
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