Cottonseed oil cake prices declined by Rs 8.50 to Rs 1,267 per quintal in futures trading today on liquidation of holdings by speculators depressed by downbeat physical sentiment.
Market players said sliding prices in the spot markets due to muted demand for animal feed makers amid mounting of ready stocks mainly discouraged traders, denoting downtrend in cottonseed oil cake futures prices.
At the National Commodity and Derivatives Exchange counter, cottonseed oil cake for May moved down by Rs 8.50 or 0.67 per cent to Rs 1,267 per quintal, clocking an open interest of 68,360 lots.
The delivery of the most traded June contract too came down by Rs 2 or 0.16 per cent to Rs 1,257 per quintal, with a business turnover of 1,74,660 lots.
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