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

The most active cotton contract for January 2022 delivery gained 1,575 yuan (about 243.79 U.S. dollars) to close at 21,255 yuan per tonne.

On Friday, the total trading volume for six listed cotton futures contracts on the ZCE was 37,225 lots with a turnover of 3.95 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.