Cotton prices in Punjab and Haryana rose sharply yesterday following increased demand from cotton mills, traders said.
Cotton mills, facing depletion of stock, had resorted to hectic buying leading to the rise, they said.
They also felt that the spurt was expected to continue until arrival of the new crop towards the end of next month.
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In yesterdays trading, F-414 cart selected sawgin prices increased to Rs 5600/5693 a quintal against the previous closing of Rs 5559/5656 a quintal, while J-34 cart selected sawgin moved up to Rs 5358/5424 a quintal against the previous closing of Rs 5278/5358 a quintal.
Bengal desi prices, which had increased by over Rs 350 a quintal during the last three weeks, strengthened further to close at Rs 3376/3496 a quintal.
Last weekend Bengal desi prices closed at Rs 3349/3483 a quintal.
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