Cottonseed oil cake prices dropped by Rs 17 to Rs 1,280.50 per quintal in the futures trade today following trimming of bets by participants due to weak physical demand.
Market players said weakness in cottonseed oil cake prices at the spot markets due to ample stocks for animal feed makers mainly dragged down cottonseed oil cake futures prices.
At the National Commodity and Derivatives Exchange platform, cottonseed oil cake delivery for May dipped by Rs 17 or 1.31 per cent to Rs 1,280.50 per quintal, with the business turnover of 19,670 open lots.
Similarly, the delivery of the most-traded June slackened by Rs 14 or 1.09 per cent to Rs 1,272 per quintal, in a business turnover of 1,68,810 open lots.