Cotton futures edge lower on weak demand

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Cotton futures edged lower on MCX due to weak domestic as well as export demand at the spot market. Though, some losses were capped on reports of lesser sowing area in Punjab and Haryana.

The contract for May delivery was trading at Rs 17330.00, down by 0.29% or Rs 50.00 from its previous closing of Rs 17380.00. The open interest of the contract stood at 4622.00 lots.

The contract for June delivery was trading at Rs 17530.00, down by 0.34% or Rs 60.00 from its previous closing of Rs 17590.00. The open interest of the contract stood at 3967.00 lots on MCX.

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