Cotton futures edge lower on weak demand

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Cotton futures edged marginally lower on MCX due to weak demand from traders and stockists at the spot market. Though, expectation of lower output from major producing belts of Punjab and Haryana after bearing heavy crop damage due to whitefly pest attack in the last season, capped some losses in cotton futures.

The contract for June delivery was trading at Rs 18200.00, down by 0.05% or Rs 10.00 from its previous closing of Rs 18210.00. The open interest of the contract stood at 6885.00 lots.

The contract for July delivery was trading at Rs 18370.00, down by 0.05% or Rs 10.00 from its previous closing of Rs 18380.00. The open interest of the contract stood at 3556.00 lots on MCX.

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