Rising Cottonseed Oil Cake Prices Surge Amid High Demand

Cottonseed oil cake prices increased by Rs 10 to Rs 2,672 per quintal in futures trade due to fresh positions created by speculators and rising demand, especially from the cattle feed sector.

On Tuesday, cottonseed oil cake prices saw an upward trend, rising by Rs 10 to reach Rs 2,672 per quintal in futures trading. This increase was primarily driven by speculators creating fresh positions in response to heightened demand.

According to the National Commodity and Derivatives Exchange, the cottonseed oil cake for June delivery registered a 0.37 percent rise, trading at Rs 2,672 per quintal, with an open interest of 1,510 lots.

Market analysts noted that the surge in prices was significantly influenced by participants raising their positions amid the growing demand for cattle feed.

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