Cottonseed prices declined by Rs 12 to Rs1,042 per quintal in future trading today, as speculators indulged in off-loading their holdings on expectations of a better crop due to adequate rain fall.
The trading sentiment was also affected by reports of weakening trend in the spot markets.
Market analysts said reports of adequate monsoon rains in producing regions this season triggered selling by speculators in futures trade.
At the National Commodity and Derivatives Exchange counter, cottonseed for January month contract slipped by Rs12 or 1.14 per cent to Rs 1,042 per quintal, clocking an open interest of 510 lots.
Current August month contract also shed Rs 9 or 0.81 per cent to Rs 1,096 per quintal in an open interest of 21,920 lots.
