Cotton futures trade up on tight supply

Cotton futures traded up on MCX on account of good demand from the spinning sector and enquiries from the exporters. Further, tight supplies of raw cotton supported the prices to move higher in the futures trade. The contract for June delivery was trading at Rs 19470.00, up by 0.15% or Rs 30.00 from its previous closing of Rs 19440.00. The open interest of the contract stood at 5808.00 lots. The contract for July delivery was trading at Rs 19700.00, up by 0.15% or Rs 30.00 from its previous closing of Rs 19670.00. The open interest of the contract stood at 2483.00 lots on MCX.