Cotton futures edged higher on MCX due to uptick in demand from traders and stockists at the domestic spot market. Besides, concern about excess rains in major producing belts of Gujarat also fuelled the uptrend.
The contract for July delivery was trading at Rs 20700.00, up by 0.49% or Rs 100.00 from its previous closing of Rs 20600.00. The open interest of the contract stood at 2712 lots.
The contract for October delivery was trading at Rs 18450.00, up by 1.04% or Rs 190.00 from its previous closing of Rs 18260.00. The open interest of the contract stood at 1972 lots on MCX.