Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Monday increased by Rs 4 to Rs 2,770 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 May traded up by Rs 4, or 0.14 per cent to Rs 2,770 per quintal with an open interest of 1,23,660 lots.

For delivery in June cottonseed oil cake traded higher by Rs 3, or 0.11 per cent, to Rs 2,840 per quintal with an open interest of 17,540 lots.

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