Cotton futures trade up on tight supply

Cotton futures traded up on MCX as increased buying by traders and improved international demand. Moreover, tight supplies of raw cotton supported the prices to move higher in the markets. The contract for May delivery was trading at Rs 19830.00, up by 0.35% or Rs 70.00 from its previous closing of Rs 19760.00. The open interest of the contract stood at 3001.00 lots. The contract for June delivery was trading at Rs 20130.00, up by 0.45% or Rs 90.00 from its previous closing of Rs 20040.00. The open interest of the contract stood at 4562.00 lots on MCX.