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NCDEX cottonseed oilcake futures slipped to Rs 2575 per quintal, down 0.81% on the day, and hovered near contract lows. Traders are looking ahead to a pickup in cotton sowing in Gujarat, India's largest producer, and the Cotton Association of India estimates the 2021-22 crop at 33.51 million bales versus 35.30 million the previous season.
Cottonseed oilcake is a protein meal used in Indian feed, so a falling benchmark signals softer meal costs for buyers. Expected larger sowing supports the bearish tilt in near-term meal prices.
indiainfoline.comJun 30, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
