Cotton futures slip on muted spot demand

Cotton (kapas) prices moved down by Rs 9 to Rs 867.50 per 20 kg in futures trading today due to weak demand at physical markets.

At the National Commodity and Derivative Exchange, kapas to be delivered in far-month April 2018 slipped by Rs 9 or 1.03 per cent to Rs 867.50 per 20 kg, with an open interest of 6,764 lots.

Marketmen said reducing of bets by traders in line with a weak trend at physical markets due to sluggish demand from fibre units and textile industries mainly kept pressure on futures prices.