Cottonseed futures gains on increase buying

NEW DELHI: Cottonseed prices improved by Rs 19 to Rs 1,554 per quintal in futures trade today owing to increased buying, guided by higher domestic markets sentiment.

Marketmen said fall in supply from growing regions sparked by rising demand in spot markets mainly influenced trading sentiments here in future price of cottonseed oilcake.

At the National Commodity and Derivatives Exchange, cottonseed oilcake for August rose by Rs 19, or 1.24 per cent, to Rs 1,554 per quintal having an open interest of 86,770 lots.

Near September contract increased by Rs 18, or 1.13 per cent, to Rs 1,606 per quintal with an open interest of 62,720 lots.