Cottonseed oil cake prices experienced a decline of Rs 20, settling at Rs 3,670 per quintal in futures trade on Monday. This drop can be attributed to participants scaling back their positions in response to unfavourable trends observed in the spot market.
On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for July delivery experienced a decline of Rs 20, representing a decrease of 0.54 per cent, settling at Rs 3,670 per quintal, accompanied by an open interest of 53,270 lots.
Analysts indicated that a sell-off by participants at current levels, in the context of a subdued market trend, exerted downward pressure on cottonseed oil cake prices.