Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Monday increased by Rs 29 to Rs 2,043 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 29, or 1.44 per cent, to Rs 2,043 per quintal with an open interest of 12,820 lots

For delivery in January, cottonseed oil cake traded higher by similar margins to Rs 2,058 per quintal with an open interest of 64,090 lots. Marketmen said raising of positions by participants amid a rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.