Cotton futures edged lower on MCX due to weak demand from traders and stockists at the spot market. Though, some losses were capped as Cotton Association of India (CAI) trimmed cotton crop for the ongoing season at 36 million bales compared to earlier estimate of 36.2 million bales.
The contract for April delivery was trading at Rs 20680.00, down by 0.24% or Rs 50.00 from its previous closing of Rs 20730.00. The open interest of the contract stood at 5636 lots.
The contract for May delivery was trading at Rs 20970.00, down by 0.33% or Rs 70.00 from its previous closing of Rs 21040.00. The open interest of the contract stood at 4148 lots on MCX.