Cottonseed oil cake prices receded by 1.16 per cent to Rs 1,749 per quintal in futures trade today as participants cut down holdings, depressed by negative physical cues.
Marketmen said sell-off by the speculators at prevailing levels dampened by weak trend in the spot markets due to ample stocks amid reduced demand from cattle-feed makers, mainly dragged down the sentiments in the cottonseed oil cake futures prices.
At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for September declined by Rs 20.50, or 1.16 per cent, to Rs 1,749 per quintal, in a business turnover of 1,33,230 open lots.
Meanwhile, the delivery for August lost Rs 12, or 0.70 per cent, to Rs 1,711.50 per quintal, in an open interest of 2,340 lots.
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