Cottonseed futures fell on profit taking

Cottonseed oilcake prices fell by Rs 22 to Rs 1,230 per quintal in futures trading today, as all-round selling witnessed at prevailing higher levels.

Marketmen said traders preferred to book profits at existing higher levels against mounting stocks, which brought down the cottonseed oilcake prices.

At the National Commodity and Derivatives Exchange, cottonseed prices for May dropped by Rs 22 or 1.76 per cent to Rs 1,230 per quintal, showing an open interest of 1,450 lots.

Current January-month contract dipped by Rs 9 or 0.79 per cent to Rs 1,124 per quintal, clocked an open interest of 9,960 lots.

While February contract slipped by Rs 7 or 0.60 to Rs 1,151 per quintal, with an open interest of 71,900 lots.