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Cottonseed oil cake futures slide on soft demand

Cottonseed oil cake prices on Tuesday declined by Rs 23 to Rs 1,765 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 23, or 1.29 per cent, to Rs 1,765 per quintal with an open interest of 29,320 lots.

Likewise, cottonseed oil cake for December delivery eased by Rs 24, or 1.31 per cent, to Rs 1,808 per quintal in 16,010 lots. PTI