Cotton futures trade higher on domestic demand

Cotton futures traded higher on MCX on account of strong domestic demand from mills buying along with some export enquiries that emerged in the market. However, a rise in local supplies and estimates of higher output limited the upside. The contract for April delivery was trading at Rs 19850.00, up by 0.40% or Rs 80.00 from its previous closing of Rs 19770.000. The open interest of the contract stood at 5208.00 lots. The contract for May delivery was trading at Rs 20130.00, up by 0.40% or Rs 80.00 from its previous closing of Rs 20050.00. The open interest of the contract stood at 4172.00 lots on MCX.