Cottonseed futures plunge Rs 68 per quintal

Cottonseed oilcake prices tumbled down by Rs 68 to Rs 2,468 per quintal in futures trade today after participants offloaded their positions, tracking a weak trend at the spot markets.
At the National Commodity and Derivative Exchange, cottonseed oilcake for delivery in most-active September contracts plummeted by Rs 68 or 2.68 per cent to Rs 2,468 per quintal, having an open interest of 53,790 lots.
Similarly, cottonseed for delivery in December contracts was trading lower by Rs 25 or 1.19 per cent to Rs 2,075 per quintal with an open interest of 36,160 lots.
Marketmen said reducing of positions by participants amid a weak trend at the physical markets, mainly dampened trading sentiments at futures trade here.