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20-Apr2018

Cotton futures edge higher on rising demand

Cotton futures edged higher on MCX due to rising demand from domestic mills at the spot market. Though, some gains were capped as world cotton production to rise in 2017/18 season, according to the latest report by US Department of Agriculture (USDA).

The contract for April delivery was trading at Rs 20660.00, up by 0.15% or Rs 30.00 from its previous closing of Rs 20630.00. The open interest of the contract stood at 4445 lots.

The contract for May delivery was trading at Rs 20960.00, up by 0.19% or Rs 40.00 from its previous closing of Rs 20920.00. The open interest of the contract stood at 5180 lots on MCX.


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