Cotton futures edged higher on MCX due to rising demand from traders and stockists at the domestic spot market. Though, expectation of better production as there is good weather across cotton sowing states like Gujarat and Maharashtra, capped some gains in cotton futures.
The contract for October delivery was trading at Rs 21140.00, up by 0.24% or Rs 50.00 from its previous closing of Rs 21090.00.The open interest of the contract stood at 4079.00 lots.
The contract for November delivery was trading at Rs 19770.00, up by 0.25% or Rs 50.00 from its previous closing of Rs 19720.00. The open interest of the contract stood at 2704.00 lots on MCX.