Cottonseed oil cake futures increase on physical demand

Cottonseed oil prices were higher by Rs 12 to Rs 1,554 per quintal in futures trade today after participants accumulated positions, triggered by a firm trend at the physical markets.

Marketmen said fresh positions created by operators following rising price in physical markets on tight supplies against rising demand from animal feed makers, influenced cottonseed oilcake prices in futures market here.

At the National Commodity and Derivative Exchange, cottonseed oil cake for delivery in January rose by Rs 12 or 0.78 per cent to Rs 1,554 per quintal, with an open interest of 20,310 lots.

Cottonseed to be delivered in December also improved by Rs 11 or 0.72 percent to Rs 1,541 per quintal, having an open interest of 81,650 lots.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)