Cottonseed oil cake futures slide on soft demand

Cottonseed oil cake prices on Tuesday declined by Rs 16 to Rs 1,956 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 September delivery fell by Rs 16, or 0.81 per cent, to Rs 1,956 per quintal with an open interest of 37,850 lots.

However, Cottonseed oil cake for December delivery went up by Rs 4, or 0.22 per cent, to Rs 1,864 per quintal in 8,960 lots. PTI