Strong demand rose cottonseed oil cake prices to Rs 1,990 per quintal

Cottonseed oil cake prices rose by Rs 13.5 to Rs 1,990.5 per quintal in futures trade Thursday on the accumulation of holdings by the participants, largely in tandem with a firming trend at the physical market. At the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in March traded higher by Rs 13.5, or 0.68 per cent, to Rs 1,990.5 per quintal, with an open interest of 86,660 lots.

Marketmen said strong demand from cattle-feed makers amid tight stocks on restricted supplies influenced cottonseed oil cake prices at futures trade here. Besides, Cottonseed oil cake for delivery in April spurted by Rs 11, or 0.55 per cent, to Rs 2,016 per quintal having an open interest of 2,21,608 lots.