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Indian cotton

prices steady

BOMBAY: Cotton prices were steady in sluggish trade as demand from mills turned sluggish while supplies were weak, dealers said.

"Traders are not releasing stocks for sale as they are expecting a further rise in prices," said a dealer. He said lower than expected rains boosted sentiment.

Gujarat Kalyan was quoted at 14,800/15,400 rupees a candy (355.56 kg). About 200-300 bales (170 kg each) of Sankar-4 variety were sold at 22,000/23,500 rupees a candy. Punjab saw-ginned was quoted 1,870/1,970 rupees a maund (37.32 kg) and F-414 at 2,250/2,330.-Reuter