Cotton futures trade lower on MCX

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Cotton futures traded lower on MCX due to rising arrivals at the spot market. Though, lower production on account of whitefly attack at major producing belts of Punjab and Haryana capped some losses in cotton futures.

The contract for December delivery was trading at Rs 16220.00, down by 0.18% or Rs 30.00 from its previous closing of Rs 16250.00.The open interest of the contract stood at 4170.00 lots.

The contract for January delivery was trading at Rs 16360.00, down by 0.12% or Rs 20.00 from its previous closing of Rs 16380.00. The open interest of the contract stood at 5263.00 lots on MCX.

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