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14-Aug2018

Cotton futures edge higher on rising demand

Cotton futures edged higher on MCX amid rising demand from domestic mills at the spot market. Besides, anticipation of lower production from major producing belts due to reports of pink bollworm attack also fuelled the uptrend.

The contract for October delivery was trading at Rs 23780.00, up by 0.04% or Rs 10.00 from its previous closing of Rs 23770.00. The open interest of the contract stood at 3863 lots.

The contract for November delivery was trading at Rs 23320.00, up by 0.13% or Rs 30.00 from its previous closing of Rs 23290.00. The open interest of the contract stood at 2383 lots on MCX.


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