Cottonseed future slips on profit taking

Cottonseed futures prices declined by Rs 6 to Rs 1,164 per quintal in future trading today following selling pressure from traders in tandem with weak spot market cues.

Market analysts said apart from profit booking at higher levels, lower spot market cue, attributed the fall here in futures prices of cottonseed.

At the National Commodity and Derivatives Exchange counter, cottonseed price for delivery in February slipped by Rs 6, or 0.51 per cent, to Rs 1,145 per quintal, clocking an open interest of 69,690 lots. 

Current January-month delivery contract also eased by Rs 4, or 0.35 per cent, to Rs 1,145 per quintal, revealing an open interest of 9,840 lots.