Cotton futures fell nearly 1 per cent on Friday

Cotton futures for August contract fell by 0.89 per cent on MCX on Friday due to lower demand in spot market.

Cotton futures for August 2012 contract, at MCX, closed at Rs 17770.00 per bale, down by 0.89 per cent, after opening at Rs 17890.00 per bale against the previous closing price of Rs 17930.00 per bale. It touched the intra-day low of Rs 17730.00 per bale. 

However, the traders are seemed to be bullish for the agri commodity due to tight supply in physical markets. The uneven rain distribution in the country has strongly affected the cotton crop, as less rainfall in Saurashtra area has raised the concerns over supply of the cotton. Via

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