Cottonseed oilcake prices weakened by Rs 40 to Rs 2,340 per quintal in futures trading today as selling existed on prevailing levels, driven by weak spot markets.
Marketmen said besides constant selling by traders on existing levels, a drop in prices at spot markets following cheap availability of alternates due to good monsoon rains mainly pulled down cottonseed oilcake prices here in trading.
At the National Commodity and Derivative Exchange counter, cottonseed oilcake delivery for current contract August plummeted by Rs 40 or 1.68 per cent to Rs 2,340 per quintal, with an open interest of 4,250 lots.
And, the delivery for most active second contract September eased by Rs 8 or 0.32 per cent to Rs 2,501 per quintal, with business turnover of 52,460 open lots.
Disclaimer: No Business Standard Journalist was involved in creation of this content
