Cottonseed oil cake futures dip on weak demand

Cottonseed oil cake prices on Wednesday fell by Rs 70 to Rs 1,996 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 April delivery traded lower by Rs 70, or 3.39 per cent, to Rs 1,996 per quintal with an open interest of 41,550 lots.

Cottonseed oil cake for May delivery fell by Rs 73, or 3.5 per cent, to Rs 2,015 per quintal in 32,950 lots. PTI