Continuing its slide, cottonseed oilcake fell by another Rs 52 to Rs 2,641 per quintal in futures trading today as speculators engaged in reducing their positions amid weak physical markets sentiment.
Marketmen said persistent offloading of positions by participants in line with weak spot markets, mainly putting pressure on cottonseed oilcake prices at futures
trade here.
At the National Commodity and Derivative Exchange, cottonseed oilcake for delivery in current month contracts dropped further by Rs 52 or 1.93 per cent to Rs 2,641 per quintal, with an open interest of 44,310 lots.
On similar lines,the most-active delivery in December month contracts declined by Rs 18 or 0.92 to Rs 1.937 per quintal, with an open interest of 58,660 lots.
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