Cottonseed oil cake prices dropped by Rs 16 to Rs 1,566 per quintal in futures trading today as traders indulged in trimming their holdings amid fall in spot demand and increased supplies.
At the National Commodity and Derivative Exchange, cottonseed oil cake for delivery in September month contracts declined by Rs 16 or 1.01 per cent to Rs 1,566 per quintal, with an open interest of 14,540 lots.
Cottonseed oilcake for most-active, to be delivered in August month contracts slipped by Rs 11 or 0.69 per cent to Rs 1,593 per quintal, having an open interest of 1,01,350 lots.
Market players attributed the fall in cottonseed oil cake prices at futures trade offloading of positions, tracking a weak trend at the spot markets on muted demand against increased supplies.
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