Cottonseed Oil Futures Drop on Weak Demand
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Cottonseed oil cake futures declined on the National Commodity and Derivatives Exchange due to soft demand and weak trends in the spot market.
New Delhi, May 19 (PTI) Cottonseed oil cake prices on Monday fell Rs 26 to Rs 3,037 per quintal in futures trade as participants reduced their bets following weak trends in the spot market.
On the National Commodity and Derivatives Exchange, cottonseed oil cake for June delivery traded lower Rs 26 or 0.86 per cent at Rs 3,037 per quintal with an open interest of 94,460 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 June delivery traded lower Rs 26 or 0.86 per cent at Rs 3,037 per quintal with an open interest of 94,460 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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