Cotton futures edged lower on MCX amid projection of rise in US acreage in the next season. Further, lower demand from traders and stockists at the spot market also fuelled the downtrend.
The contract for May delivery was trading at Rs 20560.00, down by 0.29% or Rs 60.00 from its previous closing of Rs 20620.00. The open interest of the contract stood at 8325 lots.
The contract for June delivery was trading at Rs 20830.00, down by 0.33% or Rs 70.00 from its previous closing of Rs 20900.00. The open interest of the contract stood at 1194 lots on MCX.