Cotton futures traded lower on MCX due to muted demand from traders and stockists at the spot market. Though, expectation of shrinkage of cotton acreage by at least 10-15 lakh ha in coming kharif season due to pest attack, capped some losses.
The contract for April delivery was trading at Rs 20550.00, down by 0.19% or Rs 40.00 from its previous closing of Rs 20590.00. The open interest of the contract stood at 787 lots.
The contract for May delivery was trading at Rs 20870.00, down by 0.1% or Rs 20.00 from its previous closing of Rs 20890.00. The open interest of the contract stood at 8484 lots on MCX.