Cottonseed oil cake prices came down by Rs 23.50 to Rs 1,677 per quintal in futures trade Monday as investors cut down their bets, taking negative cues from the physical markets.
Marketmen attributed the slide in cottonseed oil cake futures prices to a weak trend in the spot markets due to soaring stocks on constant supplies against slackness in demand from soap, paint and lubricant industries.
At the National Commodity and Derivatives Exchange counter, cottonseed oil cake delivery for the most-traded December contract fell by Rs 23.50, or 1.38 per cent, to Rs 1,677 per quintal with a business turnover of 56,890 lots.
Cottonseed oil cake for delivery in January next year dropped by Rs 20.50, or 1.20 per cent, to Rs 1,691 per quintal with an open interest of 3,230 lots.
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