Cottonseed oil cake prices drifted lower by Rs 36 to Rs 1,694 per quintal in futures trading today after participants trimmed their bets amid a weak trend at the domestic spot markets.
Marketmen said the fall in cottonseed oilcake prices at futures trade was mostly attributed to cutting down of positions by participants, tracking a weak trend at the spot markets on weakness in other alternatives amid ongoing monsoon rains.
At the National Commodity and Derivative Exchange, cottonseed oil cake for delivery this month contracts moved down by Rs 36 or 2.08 per cent to Rs 1,694 per quintal, in an open interest of 76,870 lots.
Cottonseed oilcake for delivery in most-active August also fell by Rs 11 or 0.67 per cent to Rs 1,641 per quintal, in an open interest of 82,450 lots.
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