Cottonseed oil futures decline on soft demand

New Delhi, Jul 24 (PTI) Cottonseed oil cake prices on Wednesday declined Rs 23 to Rs 2,984 per quintal in futures trade as participants reduced their bets following weak trends in spot markets.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for August delivery fell Rs 23 or 0.77 per cent to Rs 2,984 per quintal with an open interest of 57,450 lots.

Analysts said a sell-off by participants at existing levels amid a subdued trend in the market mainly weighed on cottonseed oil cake prices. PTI SGC SHW