Cottonseed oilcake prices were trading down by Rs 42 to Rs 2,061 per quintal in futures trade today, largely in tandem with a weak trend at the physical markets on subdued demand.
Market analysts said the fall in cottonseed oilcake prices was mostly attributed to offloading of positions by participants as its demand diverted to other alternates due to prevailing attractive lower levels.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in June weakened by Rs 42, or 2 per cent, to Rs 2,061 per quintal, showing an open interest of 32,520 lots.
The cottonseed oilcake for delivery in May was trading lower by Rs 34, or 1.66 per cent, to Rs 2,017 per quintal, with a business turnover of 1,36,550 open lots.
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