Cotton futures traded higher on MCX due to uptick in demand from traders and stockists in the spot market. Though, higher production in next season amid good sowing progress in major growing regions capped some gains in cotton futures.
The contract for July delivery was trading at Rs 20730.00, up by 1.42% or Rs 290.00 from its previous closing of Rs 20440.00.The open interest of the contract stood at 5633 lots.
The contract for October delivery was trading at Rs 18750.00, up by 0.54% or Rs 100.00 from its previous closing of Rs 18650.00. The open interest of the contract stood at 447 lots on MCX.