Cottonseed oilcake prices dropped by Rs 23 to Rs 1,963 per quintal in futures trading today as speculators indulged in liquidating their holdings amid a weak trend at the spot market.
At The National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in current month dropped by Rs 23, or 1.16 per cent, to Rs 1,963 per quintal, having an open interest of 28,620 lots.
Cottonseed oilcake for delivery in most-active January also fell by Rs 14, or 0.72 per cent, to Rs 1,943 per quintal, in an open interest of 62,980 lots.
Marketmen said cutting down of positions by speculators, taking weak cues from domestic spot markets due to muted demand against constant arrivals from growing regions, pulled down cottonseed oilcake prices at futures trade.
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