Cottonseed Oil Futures Drop on Weak Demand
Cottonseed oil cake futures declined on Thursday due to weak demand and a sell-off by participants in the spot market. Prices fell to Rs 3,287 per quintal on the National Commodity and Derivatives Exchange.
New Delhi, Aug 22 (PTI) Cottonseed oil cake prices on Thursday declined Rs 9 to Rs 3,287 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 9 or 0.27 per cent to Rs 3,287 per quintal with an open interest of 27,810 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 9 or 0.27 per cent to Rs 3,287 per quintal with an open interest of 27,810 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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