Cotton futures close higher

ZHENGZHOU, March 22– Cotton futures closed higher Wednesday in daytime trading on the Zhengzhou Commodity Exchange. The most active cotton contract for May 2023 delivery gained 20 yuan to close at 13,990 yuan per tonne. As the world’s largest producer, consumer, and exporter of textiles, China listed cotton futures on ZCE in June 2004, helping cotton-related…

ZHENGZHOU, March 22 (Xinhua) — Cotton futures closed higher Wednesday in daytime trading on the Zhengzhou Commodity Exchange (ZCE).

The most active cotton contract for May 2023 delivery gained 20 yuan (about 2.91 U.S. dollars) to close at 13,990 yuan per tonne.

On Wednesday, the total trading volume for six listed cotton futures contracts on the ZCE was 541,765 lots with a turnover of 38.1 billion yuan.

As the world’s largest producer, consumer, and exporter of textiles, China listed cotton futures on ZCE in June 2004, helping cotton-related enterprises hedge the price risk. Enditem