950807

India cotton

prices mixed

BOMBAY: Cotton prices were mixed in the local market as sentiment was subdued, dealers said.

Gujarat cotton climbed while Punjab varieties slipped. "Traders sold Punjab varieties following widespread rains in northern India," a dealer said.

In spot deals, Gujarat Kalyan rose by 100-200 rupees per candy (355.56 kg) to 14,600/15,200 and Wagad forged ahead by 200-300 rupees per candy to 13,500/13,700.

Punjab saw-ginned shed 10-20 rupees per maund (37.32 kg) to 1,960/1,965 and F-414 lost by a similar amount to 2,345/2,350 rupees per maund.

Dealers said market sentiment was subdued on expectations that state-run agencies may slash prices.

"Last week these agencies had slashed prices by 500 rupees per candy," a broker said.-Reuter