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Indian cotton prices subdued

BOMBAY: Cotton prices remained subdued on poor buying by mills and state-run agencies, dealers said.

They said the election commission's rejection of a government proposal to allow more exports of cotton had also triggered selling by traders and farmers.

"Fresh arrivals further affected prices," said a dealer.

In spot, Punjab saw-ginned fell 40/45 rupees to 1,490/1,510 rupees per maund (37.32 kg) and F-414 slid 10/15 rupees to 1,820/1,835 rupees per maund. Gujarat Kalyan (medium staple) fell 300 rupees to 10,500/11,000 rupees per candy (355.56 kg).-Reuter