Cottonseed oil prices dropped by Rs 20 to Rs 2,230 per quintal in futures trading today as participants preferred to cut down their positions to book profits.
Besides, a weak trend at the spot markets due to sluggish demand amid increased arrivals put pressure on prices.
At the National Commodity and Derivative Exchange, cottonseed oilcake for delivery in February contracts slipped by Rs 20 or 0.89 per cent to Rs 2,230 per quintal, having an open interest of 67,200 lots.
In a similar manner, delivery in far-month March contracts declined by Rs 20, or 0.88 per cent to Rs 2,263 per quintal, clocking an open interest of 54,870 lots.
Marketmen said besides profit selling by participants, weakness in spot markets dampened sentiments at futures trade here.
(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
Source: dnaindia.com