Cottonseed oil cake futures succumb to profit-booking

Cottonseed oil cake prices came down by Rs 14 to Rs 1,524 per quintal in futures trading today on profit-booking by participants in line with a weakening trend in physical markets.

At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in August weakened by Rs 14, or 0.91 per cent, to Rs 1,524 per quintal, having an open interest of 1,00,170 lots.

Cottonseed oilcake for September delivery too lost Rs 13, or 0.85 per cent, to Rs 1,524 per quintal in an open interest of 26,540 lots.

Marketmen said traders opting to book profits at current levels and a weak trend at the spot markets due to diversion of demand towards other alternatives, available at lower levels, led to the fall in cottonseed oilcake prices at futures trade here.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)