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Indian cotton rises

BOMBAY: Indian cotton prices on Wednesday extended gains helped by continued buying by state agencies and restricted arrivals, dealers said.

In spot deals Bengal-deshi moved up by 30/40 rupees to 860/890 rupees per maund (37.32 kg) while Punjab saw-ginned rose by 5/10 rupees to 1,535/1,550 rupees. Gujarat Kalyan (medium staple) moved up by 100 rupees to 10,800/11,000 rupees per candy (355.56 kg).

"The government has ordered state agencies to buy more cotton from the farmers with elections round the corner ," one broker said.-Reuter