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Cottonseed oil cake futures dip on soft demand

Cottonseed oil cake prices on Wednesday fell by Rs 20 to Rs 1,989 per quintal in futures trade as participants reduced their bets amid a weak trend at spot market.

Market players said sell-off by participants at the existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices.

On the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in January fell by Rs 20, or 1 per cent, to Rs 1,989 per quintal with an open interest of 90,390 lots.

Cottonseed oil cake for delivery in February went down by Rs 26, or 1.27 per cent, to Rs 2,016 per quintal in 20,300 lots. PTI