Cottonseed prices dropped by Rs 24 to Rs 1,178 per quintal in the futures trading today following fresh selling by traders on the back of weak spot market cues.
Market analysts said traders offloading part of their positions tracking lower spot markets sentiments.
At the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in July dropped by Rs 24, or two per cent, to Rs 1,178 per quintal, with an open interest of 6,560 lots.
Cottonseed for delivery in May fell by Rs 14, or 1.24%, to Rs 1,113 per quintal, with an open interest of 84,410 lots.
Likewise, its prices for delivery in April shed Rs 13, or 1.18%, to Rs 1,088 per 100 kg, with an open interest of 25,670 lots.