Cottonseed Oil Futures Decline on Weak Demand
Cottonseed oil cake prices fell on the National Commodity and Derivatives Exchange due to reduced bets following weak trends in spot markets. Analysts cite subdued market trend and sell-off by participants as reasons for the decline.
New Delhi, Aug 30 (PTI) Cottonseed oil cake prices on Friday declined Rs 56 to Rs 3,546 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 September delivery fell Rs 56 or 1.58 per cent to Rs 3,546 per quintal with an open interest of 23,010 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.
On the National Commodity and Derivatives Exchange, cottonseed oil cake for September delivery fell Rs 56 or 1.58 per cent to Rs 3,546 per quintal with an open interest of 23,010 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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