Cotton futures declined on MCX amid prospects of better crop in the country due to favorable weather conditions in major producing belts. Besides, lackluster demand by domestic mills also fuelled the downtrend.
The contract for October delivery was trading at Rs 21170.00, down by 2.85% or Rs 620.00 from its previous closing of Rs 21790.00. The open interest of the contract stood at 4135.00 lots.
The contract for November delivery was trading at Rs 19720.00, down by 3.33% or Rs 680.00 from its previous close of Rs 20400.00. The open interest of the contract stood at 2740.00 lots on MCX.