The fall in cottonseed oil cake continued for the second consecutive day as prices dropped further by 3 per cent in the futures trade today on heavy offloading of positions by the speculators.
Market players said operators were continuously reducing their bets in pressure of mounting ready stocks on sustained supplies amid muted demand from cattle feed traders in spot markets, which led to further fall in cottonseed oil cake futures prices.
At the National Commodity and Derivatives Exchange counter, cottonseed oil cake delivery for June contract tumbled further by Rs 39.50, or 3.02 per cent, to Rs 1,270 per quintal with an open interest of 1,49,620 lots.
Likewise, the delivery of May contracts slumped by Rs 38, or 2.93 per cent, to Rs 1,261 per quintal, with the business turnover of 1,5,400 open lots.
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