Cottonseed oilcake futures rise modestly on fresh buying

NEW DELHI: Cottonseed oilcake prices rose by Rs 16 to Rs 1,455 per quintal in futures trading today after speculators built-up positions, driven by rising demand at physical markets.

At the National Commodity and Derivatives Exchange ( NCDEX), cottonseed oilcake for delivery in February month advanced by Rs 16, or 1.11 per cent, to Rs 1,455 per quintal, with an open interest of 32,710 lots.

Also, cottonseed oilcake delivery in current month surged by Rs 15, or 1.06 per cent to Rs 1,430 per quintal, in an open interest of 34,020 lots.

Marketmen said the rise in cottonseed oilcake prices at futures trade was mostly attributed to rising demand from stockists against restricted arrivals in spot markets.