Spot demand lifts cottonseed oilcake futures

NEW DELHI: Cottonseed oilcake prices surged by Rs 33 to Rs 2,304 per quintal in future trading today after speculators widened their positions, triggered by strong spot demand.

Marketmen attributed rise in cottonseed oilcake prices at futures trade to strong demand from cattle-feed makers at the domestic spot markets amid thin supplies.

At the National Commodity and Derivatives Exchange counter, cottonseed oilcake delivery for May jumped up by Rs 33, or 1.45 per cent to Rs 2,304 per quintal, with an open interest of 36,750 lots.

Also, most-active delivery in April shot up by Rs 31, or 1.39 per cent to Rs 2,264 per quintal, clocking an open interest of 69,810 lots.