Cottonseed oilcake futures slip on weak demand

Cottonseed oil cake prices were down by Rs 14.5 to Rs 3,265 per quintal in futures trading on Friday as speculators engaged in trimming their holdings in tandem with a weak trend at the spot market.

Marketmen said continues offloading of positions by participants due to subdued demand mainly exerted pressure on prices here.

At the National Commodity and Derivative Exchange, cottonseed oil cake for delivery in September fell by Rs 14.5, or 0.44 per cent, to Rs 3,265 per quintal, in an open interest of 30,110 lots.

However, delivery in December month rose by Rs 3.5 or 0.16 per cent to Rs 2,126 per quintal having an open interest of 36,920 lots.