Cottonseed oil cake prices dropped for the third straight day by losing another Rs 11.50 to Rs 1,236 per quintal in futures trade today as traders cut down holdings amid a weak trend at the physical markets.
Marketmen said ample position of stocks on uninterrupted arrivals amid weak demand from cattle-feed makers in spot markets kept cottonseed oil cake futures prices down.
At the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in May contracts fell by Rs 11.50, or 0.92 per cent, to Rs 1,236 per quintal with an open interest of 1,45,560 lots.
Cottonseed oil cake for most-traded delivery in June contracts also lost Rs 9.50, or 0.76 per cent, to Rs 1,248 per quintal showing an open interest of 1,57,920 lots.
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