Cottonseed oilcake futures fall on weak spot trend

NEW DELHI: Cottonseed oil cake prices fell by Rs 19 to Rs 1,578 per quintal in futures trade today as speculators reduced their holdings guided by weak spot market sentiment.

Marketmen said a weakening spot market trend on easy availability of other alternates products mainly put weight on cottonseed oilcake prices in futures trade.

At the National Commodity and Derivatives Exchange, cottonseed oilcake prices for July fell by Rs 19, or 1.19 per cent to Rs 1,578 a quintal in open interest of 1,64,760 lots.

Near August month contract also declined by Rs 19, or 1.15 per cent, to Rs 1,633 per quintal in 99,030 lots.