Cotton futures trade lower on sluggish demand

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Cotton futures traded lower on MCX due to sluggish demand from domestic mills. Further, worries over excess inventories in China and the US market also influenced cotton futures.

The contract for February delivery was trading at Rs 16210.00, down by 0.37% or Rs 60.00 from its previous closing of Rs 16270.00.The open interest of the contract stood at 3374.00 lots.

The contract for March delivery was trading at Rs 16330.00, down by 0.37% or Rs 60.00 from its previous closing of Rs 16390.00. The open interest of the contract stood at 7253.00 lots on MCX.

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