Cotton futures rise on increase in demand

Cotton futures traded higher on MCX on account of increased demand at the spot market along with expectations of higher exports. Moreover, decline in arrivals also influenced the cotton price in the future trade. The contract for May delivery was trading at Rs 21390.00, up by 0.47% or Rs 100.00 from its previous closing of Rs 21290.00. The open interest of the contract stood at 5981.00 lots. The contract for June delivery was trading at Rs 21660.00, up by 0.37% or Rs 80.00 from its previous closing of Rs 21580.00. The open interest of the contract stood at 2566.00 lots on MCX.