Continuing its slide, cottonseed oil cake prices fell by another Rs 29 to Rs 2,113 per quintal in futures trade today as traders engaged in cutting down their bets in tandem with weak physical markets.
Market analysts said continued offloading of positions by participants, tracking a weak trend at the domestic spot markets on muted demand, led to persistent fall in cottonseed oilcake prices at futures trade here.
At the National Commodity and Derivative Exchange, cottonseed oilcake for delivery in far-month August slided further by Rs 29 or 1.35 per cent to Rs 2,113 per quintal, clocking an open interest of 2,270 lots.
In a similar manner, the cottonseed oilcake for delivery in May remained under pressure, by losing Rs 143 or 0.65 per cent to Rs 1,981 per quintal, revealing an open interest of 1,35,480 lots.
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