Cottonseed sheds 2.5% on selling pressure

Cottonseed futures today prices tumbled by Rs 36 to Rs 1,272 per quintal following selling by mills, tracking weak spot market sentiment.

Marketmen said increased supply and reduced demand in physical markets, led the fall here in future prices of cottonseed oilcake.

At the National Commodity and Derivatives Exchange, cottonseed oilcake prices for far September month slipped by Rs 36, or 2.75%, to Rs 1,272 per quintal, showing an open interest of 3,280 lots.

The most active June contract shed Rs 29, or 2.50%, to Rs 1,132 per quintal, with an open interest of 1,79,140 lots.