Cottonseed oil cake futures rise on fresh bets

New Delhi: Cottonseed oil cake prices on Thursday increased by Rs 8 to Rs 1,843 per quintal in futures trade as speculators created fresh positions driven by firm spot demand. On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in December traded up by Rs 8, or 0.44 per cent, to Rs 1,843 per quintal with an open interest of 22,490 lots.

For delivery in January, cottonseed oil cake traded higher by similar margins to Rs 1,855 per quintal with an open interest of 6,940 lots.

Marketmen said raising of positions by participants amid a rising demand from cattle feed makers mainly influenced cottonseed oil cake prices here.