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Cottonseed futures down on weak spot demand

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Press Trust of India New Delhi

Cottonseed prices dropped by Rs 18 to Rs 1,315 per quintal in the future trading today tracking lower physical market sentiments.

Market analysts said speculators indulged in reducing their positions driven by rising inventories and slackness in demand at spot markets.

At the National Commodity and Derivatives Exchange, cottonseed oilcake prices for delivery in June went down by Rs 18, or 1.35 per cent, to Rs 1,315 per quintal, with an open interest of 7,280 lots.

Similarly, for delivery in April cottonseed prices decreased by Rs 9, or 0.71 per cent, to Rs 1,256 per quintal. with an open interest of 56,600 lots. 

 

Cottonseed prices for March delivery contract eased by Rs 7, or 0.57 per cent, to Rs 1,226 per 100 kg, with a business turnover of 73,900 lots.

 

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First Published: Feb 24 2011 | 2:25 PM IST

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