Cottonseed oil cake futures fall on spot cues

Cottonseed oil cake prices fell by Rs 16.5 to Rs 2,805 per quintal in futures trade Monday as speculators liquidated their holdings due to a negative trend at the physical market. Marketmen said offloading of holdings by traders, in tune with availability ample ready stock amid subdued demand, lead to the downtrend in cottonseed oil cake prices.

On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for August delivery receded by Rs 16.5, or 0.58 per cent, to Rs 2,805 per quintal with an open interest of 5,720 lots. Similarly, the delivery for September fell by Rs 37.5, or 1.32 per cent, to Rs 2,800 per quintal with an open interest of 3,380 lots.