960404

Indian cotton prices rise

BOMBAY: Indian cotton prices rose on fresh buying by state agencies and on expectations that the government may allow more exports, traders said.

"The government has announced some relief regarding the availability of bank finance for cotton which also aided the rise," one broker said.

In spot deals Punjab saw-ginned moved up by 30/35 rupees to 1,480/1,525 rupees per maund (37.32 kg), while F-414 rose by 20/30 rupees to 1,780/1,825 rupees per maund. Gujarat Kalyan (medium staple) was however quoted steady at 10,500/10,800 rupees per candy.-Reuter