MCX cotton up 1% on firm demand in spot markets.

Futures contracts of cotton rose nearly 1% on the MCX because of higher demand in the spot markets, and tracking benchmark contracts on the ICE. May contract of cotton on the MCX traded up 0.8% from the previous close. The June contract also traded 0.7% higher at 21,390 rupees. On the ICE, the most-active July contract traded at 77.53 cents per pound. However, prospects of a higher acreage for cotton, amid reports of an early onset of the southwest monsoon in India, prevented any further rise in prices.