Cottonseed oilcake futures down on sluggish demand

Cottonseed oilcake prices moved down by Rs 17 to Rs 1,112 per quintal in futures trading today sluggish physical demand amid rising inventories. 

Market analysts said mounting of ready stocks and sluggish demand in physical markets influenced trading sentiments here. 

At the National Commodity and Derivatives Exchange, cottonseed oilcake prices for delivery in June fell by Rs 17, or 1.51% to Rs 1,112 per quintal, with an open interest of 62,500 lots.

Similarly, prices for delivery in May also went down by Rs 15, or 1.38% to Rs 1,074 per quintal, depicting an open interest of 67,020 lots.