Spot demand lifts cottonseed oilcake futures
Cottonseed oil cake prices advanced by Rs 14 to Rs 1,532 per quintal in futures trading today on the back of widening of positions by participants in tune with strong demand at the physical markets.
At the National Commodity and Derivative Exchange, cottonseed oil cake for delivery in current month contracts was trading higher by Rs 14 or 0.92 per cent to Rs 1,532 per quintal, having an open interest of 26,340 lots.
In a similar fashion, cottonseed oilcake for most active delivery in far-month December looked up by Rs 2 or 0.13 per cent to Rs 1,556 per quintal, having an open interest of 46,160 lots.
Marketmen said the rise in cottonseed oilcake prices at futures trade was mostly attributed to raising of bets by participants, driven by brisk demand in spot markets from, animal feed makers.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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