Cotton futures trade higher on pickup in demand

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Cotton futures traded higher on MCX due to pickup in domestic as well as export demand in the spot market. Moreover, expectation of lower production due to scare rains in major producing belts too supported cotton futures.

The contract for November delivery was trading at Rs 15800.00, up by 0.19% or Rs 30.00 from its previous closing of Rs 15770.00. The open interest of the contract stood at 1994.00 lots.

The contract for December delivery was trading at Rs 15780.00, up by 0.32% or Rs 50.00 from its previous closing of Rs 15730.00. The open interest of the contract stood at 6485.00 lots on MCX.

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