Cotton futures edge lower on weak export demand

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Cotton futures edged lower on MCX due to weak export demand from Bangladesh, Pakistan and Vietnam. Though, some losses were capped on lower output from major growing regions due to delayed arrival of monsoon coupled with scare of pest attacks such as whitefly and pink bollworm.

The contract for June delivery was trading at Rs 18870.00, down by 0.53% or Rs 100.00 from its previous closing of Rs 18970.00. The open interest of the contract stood at 5643.00 lots.

The contract for July delivery was trading at Rs 19100.00, down by 0.47% or Rs 90.00 from its previous closing of Rs 19190.00. The open interest of the contract stood at 4687.00 lots on MCX.

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