Cottonseed cake oil futures fall on soft demand

Cottonseed oil cake prices on Wednesday declined by Re 1 to Rs 1,999 per quintal in futures trade as participants reduced their bets tracking a weak trend in spot market. Cottonseed oil cake for February delivery eased by Rs 3, or 0.15 per cent, to Rs 2,023 per quintal in 29,660 lots.

Cottonseed oil cake prices on Wednesday declined by Re 1 to Rs 1,999 per quintal in futures trade as participants reduced their bets tracking a weak trend in spot market. Analysts said sell-off by participants at existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for January delivery fell by Re 1, or 0.05 per cent, to Rs 1,999 per quintal with an open interest of 63,540 lots. Cottonseed oil cake for February delivery eased by Rs 3, or 0.15 per cent, to Rs 2,023 per quintal in 29,660 lots.