MUMBAI(Commoditiescontrol) - Cotton oilcake witnessed subdued tone at the key Kadi market of Gujarat on Monday amid weak demand.
Cotton oilcake declined by Rs 25 to Rs 2,175/100kg in Kadi market on account of weak demand from stockiest.
Now stockiest are anticipating that demand of cotton oil cake may not improve in coming days as per expectation which has kept them sideline from buying cotton cake at current level.
Ginners are reluctant to sell cotton seed at current level as they are waiting for the prices to increase.
Demand for cotton seed from processors is also very limited due to huge disparity in cottonseed crushing.
Cotton seed was last traded in the range of Rs Rs 2,500-2,550/100kg, unchanged on previous session at the benchmark Kadi market.
Cotton Oilcake most active May delivery ended down by Rs 4 at Rs 2,135/100kg on the National Commodity & Derivatives Exchange Ltd (NCDEX).
(By Commoditiescontrol Bureau; +91-22- 40015516)
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