Cottonseed oil cake futures dip on weak spot cues

Cottonseed oil cake prices tumbled by Rs 40 to Rs 1,627.50 per quintal in futures trade today after participants liquidated their holdings, hurt by negative physical markets.

Marketmen said tracking subdued spot markets, traders preferred to offload their holdings, which pulled the trading sentiments down in cottonseed oil cake futures prices.

In the physical markets, muted demand for animal feed makers due to cheap availability of alternates, triggered by ample stocks in the markets led to the fall in prices, they added.

At the National Commodity and Derivatives Exchange, cottonseed oil cake for September drifted lower by Rs 40, or 2.40 percent, to Rs 1,627.50 per quintal, having the business turnover in 82,370 open interest lots.

However, the delivery for December inched down by Rs 2.50, or 0.15 percent, to Rs 1,693 per quintal, in an open interest of 45,390 lots.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)