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05-Apr2019

Cotton futures edge up on improved demand

Cotton futures edged up on MCX as Cotton Association of India (CAI) cuts 2018-19 production estimates further by 2 l-bales to 328 l-bales for the year 2018-19. Besides, improved demand from domestic mills at the spot market also fuelled the uptrend.

The contract for April delivery was trading at Rs 22240.00, up by 0.50% or Rs 110.00 from its previous closing of Rs 22130.00. The open interest of the contract stood at 15879 lots.

The contract for May delivery was trading at Rs 22530.00, up by 0.58% or Rs 130.00 from its previous closing of Rs 22400.00. The open interest of the contract stood at 3465 lots on MCX.


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