Cottonseed oilcake prices drifted lower by Rs 23 to Rs 1,902 per quintal in futures trade today as participants trimmed their exposure in line with weak physical markets sentiment.
Marketmen said offloading of positions by participants, taking weak cues from the domestic spot markets on sluggish demand against constant supplies, mainly weighed on cottonseed oilcake prices in futures trade.
At the National Commodity and Derivatives Exchange, cottonseed oilcake delivery in most-active December slipped by Rs 23 or 1.19 per cent to Rs 1,902 per quintal in an open interest of 57,750 lots.
Similarly, the commodity for delivery in January was trading lower by Rs 23 or 1.19 per cent to Rs 1,906 per quintal with a business turnover of 48,670 open lots.
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