Cottonseed oilcake futures prices plunged by Rs 31 to Rs 1,300 per quintal today, following profit booking in tandem with weak spot markets sentiment.
Market analysts said heavy selling by traders, guided by weak physical market sentiments, mainly pulled down the prices of cottonseed oilcake in futures trade.
At the National commodity and Derivatives Exchange, cottonseed oilcake prices for September delivery at Akola, Maharashtra plunged by Rs 31, or 2.33%, to Rs 1,300 per quintal, with an open interest of 3,160 lots.
The most active June contract lost Rs 6, or 0.53%, in line with other contracts at Rs 1,120 per quintal, clocking an open interest of 94,000 lots.