Cottonseed oil cake prices drifted lower by Rs 15.50 to Rs 1,281 per quintal in futures trading today as participants were cutting down exposures in tune with weak demand at the spot markets.
Market players attributed the slide in cottonseed oil cake futures prices to tepid demand for animal feed makers amid mounting of stocks in the spot markets.
At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for the most-traded delivery in June month contracts slipped by Rs 15.50 or 1.20 per cent to Rs 1,281 per quintal, with the business turnover of 1,66,150 open lots.
Also, the contracts for delivery in May declined by Rs 9 or 0.69 per cent to Rs 1,304 per quintal, having the business turnover in 19,620 open lots.
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