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Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Monday increased by Rs 68 to Rs 1,768 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 September traded up by Rs 68, or 4 per cent to Rs 1,768 per quintal with an open interest of 40,070 lots.

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

However, for delivery in December cottonseed oil cake traded lower by Rs 3, or 0.16 per cent, to Rs 1,891 per quintal with an open interest of 16,300 lots. PTI