Cotton futures edged lower on MCX due to weak demand from domestic mills at the spot market. Though, expectation of shrinkage of cotton acreage by at least 10-15 lakh ha in coming kharif season in the country due to pest attack capped some losses in cotton futures.
The contract for April delivery was trading at Rs 20610.00, down by 0.24% or Rs 50.00 from its previous closing of Rs 20660.00. The open interest of the contract stood at 7520 lots.
The contract for May delivery was trading at Rs 20870.00, down by 0.24% or Rs 50.00 from its previous closing of Rs 20920.00. The open interest of the contract stood at 1392 lots on MCX.