Cottonseed falls on increased supply

Cottonseed futures prices drifted by Rs 14 to Rs 1,192 per quintal today, following weak spot market cues.

Marketmen said increased supply and reduced offtake on higher levels in physical markets, mainly drove trading sentiments here in futures prices of cottonseed.

At the National Commodity and Derivatives Exchange, cottonseed for delivery in February dropped by Rs 14, or 1.16%, to Rs 1,192 per quintal, with an open interest of 18,100 lots.

The December contract shed Rs 11, or 0.94%, to Rs 1,156 per quintal, clocking an open interest of 46,020 lots.

January cottonseed too lost Rs 11, or 0.93%, to Rs 1,173 per quintal, clocking an open interest of 56,560 lots.