Cottonseed oil cake futures advance on physical demand

Cottonseed oil cake prices rallied by 1.07 percent to Rs 1,695 per quintal in futures trade today as investors raised bets, driven by upbeat sentiment at the physical markets.

Marketmen said raising of bets by participants, largely in sync with a firm trend at the spot markets on pause in supplies against strong demand from animal feed makers, led to the rise in cottonseed oil cake futures prices.

At the National Commodity and Derivatives Exchange, cottonseed oil cake for the most-traded delivery in September contracts hardened by Rs 18, or 1.07 percent, to Rs 1,695 per quintal clocking an open interest of 1,29,570 lots.

Also, the delivery of December contracts advanced by Rs 17.50, or 1.04 percent, to Rs 1,704,50 per quintal, the business turnover was in 35,660 open interest lots.

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