Cottonseed futures gain on increased buying

NEW DELHI: Cottonseed prices rose by Rs 10 to Rs 1,517 per quintal in futures trading today owing to increased buying guided by higher domestic markets sentiment.

Marketmen said fall in supply and low stocks position on rising demand in spot markets mainly influenced trading sentiments here in futures trade of cottonseed oilcake.

At the National Commodity and Derivatives Exchange, cottonseed oil cake price for current July contract improved by Rs 10, or 0.66 per cent to Rs 1,517 per quintal, having an open interest of 3,480 lots.

Most active near August contract increased by Rs 9 or 0.58 per cent to Rs 1,570 per quintal, with an open interest of 1,71,250 lots.