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Cottonseed oil cake futures drop on subdued spot cues

Press Trust of India  |  New Delhi 

Cottonseed dropped by 0.77 per cent to Rs 1,481 per in futures trade today as traders preferred to cut down holdings on weak spot demand.

Weak cues at the physical markets, where prices remained lower due to mounting stocks amid tepid demand from animal feed makers, influenced futures trading, market players said.

At the National Commodity and Derivatives Exchange, for the most traded second contract April month slipped further by Rs 11.50 or 0.77 per cent to Rs 1,481 per quintal, with open interest of 1,09,1430 lots.

Similarly, the delivery of the first contract March month edged down by Rs 7.50 or 0.51 per cent to Rs 1,451 per quintal, in an open interest of 78,930 lots.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 08 2018. 12:45 IST