Cottonseed oilcake prices dropped by Rs 23 to Rs 2,015 per quintal in futures trading today as speculators indulged in trimming their exposure, triggered by weak physical market sentiment.
At the National Commodity and Derivative Exchange, cottonseed oilcake delivery for February month contracts declined by Rs 23, or 1.13 per cent to Rs 2,015 per quintal, with an open interest of 64,970 lots.
Also, delivery in March month delivery dipped by Rs 22, or 1.07 per cent to Rs 2,029 per quintal, in an open interest of 63,130 lots.
Marketmen offloading of positions by traders amid a weak trend at the domestic spot markets on supply pressure and weak demand, led to the fall in cottonseed oilcake prices at futures trade here.
