Cottonseed oilcake futures spurt on spot demand
Cottonseed oilcake prices zoomed Rs 33 to Rs 1,447 per quintal in futures trade today after participants widened their holdings in tune with strong demand at the physical markets.
Market players said raising of positions by speculators, tracking robust demand at the spot markets, led to the rise in cottonseed oilcake prices in futures trade.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in August went up by Rs 33, or 2.33 per cent, to Rs 1,447 per quintal, with an open interest of 12,870 lots.
Cottonseed oilcake for delivery in September also climbed up by Rs 28, or 1.93 per cent, to Rs 1,476 per quintal, having an open interest of 94,770 lots.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)