NCDEX cotton oilcake at 4-month low on weak demand.

Futures contracts of cottonseed oilcake hit a four-month low of 1,998 rupees per 100 kg, tracking a fall in physical markets. The most active May contract of cottonseed oilcake on the NCDEX traded at 2,022 rupees per 100 kg, down 1.75% from the previous close. In Akola, the benchmark market in Maharashtra, cottonseed oilcake was sold at 2,070-2,080 rupees per 100 kg, while in Kadi, Gujarat it was quoted at 2,050-2,060 rupees, both down 30 rupees from previous close. Weakness in cotton contracts on the MCX also weighed on prices of cottonseed oilcake, a derivative of cotton.