Cotton future trade down on ample supply

Cotton future traded down on MCX due to subdued demand from local mills and exporters amid large supplies from the new season crop and on estimates of a record crop. Moreover, expectation of higher arrival also put pressure on cotton prices. The contract for May delivery was trading at Rs 19550.00, down by 0.66% or Rs 130.00 from its previous closing of Rs 19680.00. The open interest of the contract stood at 769.00 lots. The contract for June delivery was trading at Rs 19750.00, down by 0.50% or Rs 100.00 from its previous closing of Rs 19850.00. The open interest of the contract stood at 6052.00 lots on MCX.