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19-Feb2019

Cotton futures trade higher on MCX

Cotton futures traded higher on MCX as Cotton Association of India (CAI) lowered its January estimate of the cotton crop by 5 lakh bales than its previous estimate to 330 lakh bales (of 170 kg each) for the 2018-19 season as farmers uprooted cotton plants following moisture deficiency in major growing regions. Though, some gains were capped on lower export demand.

The contract for February delivery was trading at Rs 20130.00, up by 0.40% or Rs 80.00 from its previous closing of Rs 20050.00. The open interest of the contract stood at 7790 lots.

The contract for March delivery was trading at Rs 20420.00, up by 0.59% or Rs 120.00 from its previous closing of Rs 20300.00.The open interest of the contract stood at 6126 lots on MCX.


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