Cottonseed oil futures slide 3% on soft demand

Cottonseed oil futures slide 3% on soft demand

NEW DELHI: Cottonseed oil cake prices on Monday declined by Rs 93 to Rs 2,671 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 93, or 3.36 per cent, to Rs 2,671 per quintal with an open interest of 1,04,940 lots.

Cottonseed oil cake for June delivery went down by Rs 94, or 3.32 per cent, to Rs 2,735 per quintal in 28,880 lots.

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