Cottonseed oil futures drop nearly 1% amid weak trend in spot market

Cottonseed oil futures drop nearly 1% amid weak trend in spot market

NEW DELHI: Cottonseed oil cake prices on Friday declined by Rs 22 to Rs 2,795 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 May delivery fell by Rs 22, or 0.85 per cent, to Rs 2,795 per quintal with an open interest of 1,15,020 lots.

Cottonseed oil cake for June delivery went down by Rs 24, or 0.83 per cent, to Rs 2,857 per quintal in 25,520 lots.

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