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12-Feb2019

Cotton futures edge lower on muted demand

Cotton futures edged lower on MCX amid muted domestic as well as export demand at the spot market. Though, some losses were capped as India's cotton production is expected to dip by 7% due to insufficient rainfall in major growing regions.

The contract for February delivery was trading at Rs 20330.00, down by 0.88% or Rs 180.00 from its previous closing of Rs 20510.00. The open interest of the contract stood at 9780 lots.

The contract for March delivery was trading at Rs 20620.00, down by 0.87% or Rs 180.00 from its previous closing of Rs 20800.00.The open interest of the contract stood at 3565 lots on MCX.

 


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