Cottonseed oilcake prices slumped by Rs 71 to Rs 2,601 per quintal in futures trade today as speculators locked in gains at prevailing levels amid a weak trend at the physical markets.
At the National commodity and Derivative Exchange, cottonseed oilcake for delivery in September month plunged by Rs 71, or 2.66 per cent to Rs 2,601 per quintal, having an open interest of 37,600 lots.
Also, the most-active delivery this month contract drifted lower by Rs 58, or 2.25 per cent to Rs 2,518 per quintal, in an open interest of 57,390 lots.
Marketmen said offloading of positions at current levels by participants to book profits and weak trend at the spot markets, led to the fall in cottonseed oilcake prices at futures trade here.
