Cottonseed oil cake prices weakened by Rs 14 to Rs 1,698 per quintal in futures trade Friday on liquidation of holdings by speculators, depressed by negative physical markets.
Marketmen said traders were offloading their holdings in tune with ample ready stock amid subdued demand for cattle-feed makers in the spot markets, leading to the downtrend in the cottonseed oil cake prices in futures trade.
At the National Commodity and Derivatives Exchange platform, cottonseed oil cake delivery for January receded by Rs 14 or 0.82 per cent to Rs 1,698 per quintal, with an open interest of 3,370 lots.
Similarly, the delivery for December fell by Rs 12.50 or 0.73 per cent to Rs 1,690 per quintal, showing an open interest of 59,930 lots.
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