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Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Wednesday increased by Rs 18 to Rs 1,856 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 18, or 0.98 per cent to Rs 1,856 per quintal with an open interest of 5,950 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 30, or 1.57 per cent, to Rs 1,880 per quintal with an open interest of 17,200 lots. PTI