Cotton futures close lower

Cotton futures closed lower Friday in daytime trading on the Zhengzhou Commodity Exchange (ZCE).

The most active cotton contract for May 2022 delivery lost 125 yuan (about 19.69 U.S. dollars) to close at 21,660 yuan per tonne.

On Friday, the total trading volume for six listed cotton futures contracts on the ZCE was 278,035 lots with a turnover of 30.13 billion yuan.

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