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Cottonseed oil cake futures advance on spot demand

Marketmen attributed the upmove in cottonseed oil cake futures prices to brisk demand for cattle feed makers amid shortage of ready stocks in the spot markets.


PTI 30 Jul 2018, 01:25 PM India

Cottonseed oil cake prices strengthened by Rs 18.50 to Rs 1,856 per quintal in futures trade today after the accumulation of bets by investors, supported by a strong demand in the spot markets.

Marketmen attributed the upmove in cottonseed oil cake futures prices to brisk demand for cattle feed makers amid the shortage of ready stocks in the spot markets.

At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for September gained Rs 18.50, or 1.01 per cent, to Rs 1,856 per quintal, having an open interest of 75,480 lots.

Likewise, the delivery for August improved by Rs 15, or 0.82 per cent, to Rs 1,849 per quintal, in a business turnover of 79,000 open lots.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)