Cottonseed Oil Cake Prices Dip Amid Market Trends
The future trade prices of cottonseed oil cake fell by Rs 18 to Rs 2,930 per quintal due to participants reducing their bets amidst weak trends in the spot market. Analysts attributed the price dip to sell-offs at existing levels owing to the market's subdued trend.
- Country:
- India
Cottonseed oil cake prices took a downward turn, dropping Rs 18 to settle at Rs 2,930 per quintal in future trades on Wednesday, as traders lessened their positions amid sluggish market trends.
The National Commodity and Derivatives Exchange recorded a 0.61 percent decrease for cottonseed oil cake slated for December delivery, marking a significant shift with an open interest of 17,360 lots.
Market analysts pinpointed the decline to strategic sell-offs by participants reacting to a broadly subdued market environment, prompting a price dip in this commodity.
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