Cotton futures edged down on MCX due to weak demand from domestic mills at the spot market. Though, reports that cotton planting in India could fall about 12% in 2018/19 on anticipation that farmers may slashed cotton acreage due to fear of infestation of pink boll worm capped some losses in cotton futures.
The contract for March delivery was trading at Rs 20140.00, down by 0.10% or Rs 20.00 from its previous closing of Rs 20160.00. The open interest of the contract stood at 2902 lots.
The contract for April delivery was trading at Rs 20430.00, down by 0.10% or Rs 20.00 from its previous closing of Rs 20450.00. The open interest of the contract stood at 5565 lots on MCX.