Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Wednesday increased by Rs 31 to Rs 2,030 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 31, or 1.55 per cent to Rs 2,030 per quintal with an open interest of 1,660 lots.

Likewise for delivery in July cottonseed oil cake traded higher by Rs 30, or 1.43 per cent, to Rs 2,135 per quintal with an open interest of 49,680 lots.

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