Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Monday increased by Rs 60 to Rs 2,007 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 June traded up by Rs 60, or 3.08 per cent to Rs 2,007 per quintal with an open interest of 31,700 lots.

Likewise for delivery in July cottonseed oil cake traded higher by Rs 58, or 2.89 per cent, to Rs 2,031 per quintal with an open interest of 18,260 lots. Marketmen said raising of positions by participants amid a rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.