New Delhi, May 12 – Cottonseed oil cake prices declined by Rs 29 to settle at Rs 2,922 per quintal in futures trading on Monday, as traders trimmed their positions in response to bearish trends in the spot market.
According to the National Commodity and Derivatives Exchange (NCDEX), the June delivery contract of cottonseed oil cake dipped by 0.99 percent to Rs 2,922 per quintal. The session saw a total open interest of 74,880 lots.
Market analysts attributed the drop to a broad-based sell-off by participants, triggered by tepid demand and a subdued market sentiment. The weakening spot demand discouraged fresh buying, leading to pressure on prices at existing levels.
