Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Thursday increased by Rs 39 to Rs 2,427 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 April traded up by Rs 39, or 1.83 per cent, to Rs 2,427 per quintal with an open interest of 78,900 lots.

For delivery in May cottonseed oil cake traded higher by Rs 38, or 1.57 per cent, to Rs 2,451 per quintal with an open interest of 69,230 lots.

Marketmen said raising of positions by participants amid a rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.