Cotton futures traded lower on MCX due to weak demand from traders and stockists at the spot market. Though, some losses were capped on expectation of lower global Cotton production by 69,000 tonnes to 26.23 million tonnes in 2018-19.
The contract for April delivery was trading at Rs 20500.00, down by 0.34% or Rs 70.00 from its previous closing of Rs 20570.00. The open interest of the contract stood at 745 lots.
The contract for May delivery was trading at Rs 20820.00, down by 0.19% or Rs 40.00 from its previous closing of Rs 20860.00. The open interest of the contract stood at 8640 lots on MCX.