Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Thursday increased by Rs 21 to Rs 2,155 per quintal in futures trade as speculators created fresh positions driven by firm spot demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in June traded up by Rs 21, or 0.98 per cent, to Rs 2,155 per quintal with an open interest of 11,310 lots.

Likewise, for delivery in July cottonseed oil cake traded higher by Rs 23, or 1.05 per cent, to Rs 2,211 per quintal with an open interest of 41,030 lots.

Marketmen said raising of positions by participants amid a rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here. PTI