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25-Feb2019

Cotton futures trade higher on improved demand

Cotton futures traded higher on MCX amid improved domestic as well as export demand at the spot market. Besides, fall in production due to the water shortage faced by cotton crop in southern states, including Telangana, Andhra Pradesh and Karnataka, and pink bollworm attack also fuelled the uptrend.

The contract for February delivery was trading at Rs 20240.00, up by 0.30% or Rs 60.00 from its previous closing of Rs 20180.00. The open interest of the contract stood at 2817 lots.

The contract for March delivery was trading at Rs 20570.00, up by 0.34% or Rs 70.00 from its previous closing of Rs 20500.00. The open interest of the contract stood at 11023 lots on MCX.


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