Cotton futures hit the initial lower ceiling of two per cent on the MCX on Monday on lack of demand.

Cotton June futures dropped 2.19 per cent to Rs 14,880 for a bale of 170 kg. Kapas or raw cotton was down marginally at Rs 919 for 20 kg.

However, it gained on the NCDEX with February contracts rising to Rs 930.

Cardamom and mentha oil, too, were trading lower on the MCX. On the NCDEX, the barley June contract slipped 1.64 per cent to Rs 1,256 a quintal, and the castorseed June contracts were quoted 1.32 per cent lower at Rs 2,980 a quintal.

The Chana June contracts gained marginally to rule at Rs 4,115 a quintal, while chilli June contracts dropped 1.46 per cent to Rs 4,736 a quintal.

Cottonseed oil cake futures gained as also gur (jaggery), but profit-booking dragged jeera with June declining to Rs 12,485 a quintal.

Maize, too, gained on the NCDEX but pepper, refined soya oil, soyabean, turmeric, wheat and mustard seed dropped.

Sugar gained with the medium grade July contracts up marginally at Rs 2,835 a quintal.

>mrsubramani@thehindu.co.in