NEW DELHI, Jan 22: Cottonseed oil cake prices plunged Rs 23 to Rs 1,725.50 per quintal in futures trade today after participants trimmed holdings in tune with a weak trend at the physical market.
Marketmen said the fall in prices was mostly attributed to offloading of bets by participants, triggered by a weak trend in the spot markets on ample stocks following higher supplies against muted demand from animal feed-makers.
At the National Commodity and Derivative Exchange, cottonseed oil cake to be delivered in February contracts dipped Rs 23, or 1.29 per cent, to Rs 1,725.50 per quintal, with the business turnover of 1,00,800 open lots.
The delivery for the March contracts also declined Rs 19.50, or 1.10 per cent, to Rs 1,746 per quintal, with an open interest of 37,850 lots.
Also, other two contracts – April and May – traded lower by 1.03 per cent and 1.59 per cent, respectively. (PTI)
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