Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Monday increased by Rs 70 to Rs 1,824 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 August traded up by Rs 70, or 3.99 per cent, to Rs 1,824 per quintal with an open interest of 10,190 lots.

Similarly, cottonseed oil cake for delivery in September traded higher by Rs 71, or 3.99 per cent, to Rs 1,851 per quintal with an open interest of 42,460 lots.

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