Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Monday increased by Rs 24 to Rs 1,975 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 July traded up by Rs 24, or 1.23 per cent, at Rs 1,975 per quintal with an open interest of 11,970 lots.

However, for delivery in August, cottonseed oil cake traded lower by Rs 17, or 0.84 per cent, at Rs 2,017 per quintal with an open interest of 46,230 lots.

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