Cottonseed oilcake prices were down Rs 31 at Rs 2,251 per quintal in futures trading today as participants cut down their positions amid a weak trend at the spot markets.
Marketmen said offloading of positions by speculators, driven by a weak trend at the spot markets on muted demand against supply pressure, mainly pulled down cottonseed futures prices here.
At the National Commodity and Derivative Exchange, cottonseed oilcake for delivery in May contracts declined by Rs 31, or 1.36 per cent, to Rs 2,251 per quintal, with an open interest of 25,040 lots.
In similar fashion, delivery in June contracts fell by Rs 29, or 1.25 per cent, to Rs 2,284 per quintal, in an open interest of 51,350 lots.
