Cottonseed Oil Futures Drop on Soft Demand
Jan 23, 2024 15:13
Cottonseed oil cake futures declined on Tuesday due to weak demand and a sell-off by participants at existing levels, resulting in a drop of Rs 54 per quintal.
New Delhi, Jan 23 (PTI) Cottonseed oil cake prices on Tuesday decreased Rs 54 to Rs 2,666 per quintal in futures trade as participants reduced their bets following weak trends in spot markets.
On the National Commodity and Derivatives Exchange, cottonseed oil cake for February delivery fell Rs 54 or 2.03 per cent to Rs 2,666 per quintal with an open interest of 53,590 lots.
Analysts said a sell-off by participants at existing levels amid a subdued trend in the market mainly weighed on cottonseed oil cake prices.
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