Cottonseed oil cake futures move up on spot demand

Cottonseed oil cake prices were higher by Rs 6.50 to Rs 1,819.50 per quintal in futures trade today on accumulated holdings by the speculators spurred by upbeat physical market sentiment.

Marketmen said buoyed by a firming trend at the spot on strong demand from animal feed makers, participants enlarged their holdings that led rise in cottonseed oil cake futures prices.

In the spot market, firm demand for animal feed makers held the prices in green, they added.

At the National Commodity and Derivatives Exchange, cottonseed oil cake for August contract went up by Rs 6.50 or 0.36 per cent to Rs 1,819.50 per quintal, clocking an open interest of 91,740 lots.

Likewise, delivery in September inched up by Rs 3 or 0.16 per cent to Rs 1,825 per quintal, in an open interest of 57,990 lots .

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