Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Thursday increased by Rs 24 to Rs 2,893 per quintal in futures trade as speculators created fresh positions driven by a firm spot demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for May delivery traded up by Rs 24 or 0.84 percent at Rs 2,893 per quintal with an open interest of 95,530 lots.

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