New Delhi, Feb 4 (PTI) – Cottonseed oil cake prices saw a decline of ₹10, settling at ₹2,703 per quintal in futures trade on Tuesday as market participants reduced their bets, influenced by weak trends in the spot market.
On the National Commodity and Derivatives Exchange (NCDEX), the February contract for cottonseed oil cake recorded a drop of ₹10 or 0.37%, trading at ₹2,703 per quintal. The contract witnessed an open interest of 43,170 lots, reflecting cautious sentiment among traders.
According to market analysts, the price decline was driven by a sell-off at existing levels, exacerbated by a subdued trend in the broader market. Weak demand in the spot market further pressured the prices, prompting participants to cut their positions.