New Delhi, March 3: Cottonseed oil cake futures saw a decline on Monday, dropping by Rs 19 to settle at Rs 2,673 per quintal. Traders on the National Commodity and Derivatives Exchange (NCDEX) scaled back their positions amid a subdued trend in the spot markets.
In futures trading, cottonseed oil cake contracts scheduled for April delivery decreased by Rs 19, or approximately 0.71 percent, to close at Rs 2,673 per quintal. The open interest for these contracts stood at 19,680 lots.
Market analysts attributed this price fall primarily to participants offloading their holdings due to weak sentiment prevailing in physical markets. The lack of robust demand in spot trading continued to pressure futures prices downward.
Traders are expected to closely monitor spot market trends in the coming sessions for clearer indications of cottonseed oil cake price movements.
