Cottonseed oil cake prices moved lower by Rs 25 to Rs 1,427 per quintal in futures trading today in the wake of lower bets by speculators in line with weak physical markets.
Market players said diversion of demand from cattle feed to cheaper availability of alternatives and enough stocks on increased supplies from growing belts mainly kept the prices subdued.
At the National Commodity and Derivative Exchange, cottonseed oil cake to be delivered in most-active August fell by Rs 25, or 1.72 per cent, to Rs 1,427 per quintal, in an open interest of 87,960 lots.
Likewise, the delivery for the September contract dropped by Rs 17, or 1.16 per cent, to Rs 1,444 per quintal, with an open interest of 45,400 lots.
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