Cottonseed oil cake prices rise by Rs 63.5 in futures trade amid firm trend

Cottonseed oil cake prices rose by Rs 63.5 to Rs 2,454 per quintal in futures trade Friday as speculators indulged in enlarging their bets amid a firm trend at the physical markets. Marketmen said fresh positions created by participants, tracking a firm trend at the spot market on frantic demand against restricted supplies, kept cottonseed oil cake prices higher in futures trade.

At the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in May advanced by Rs 63.5, or 2.66 per cent, to Rs 2,454 per quintal with an open interest of 10 lots. Cottonseed oil cake for delivery in June also went up by Rs 59, or 2.44 per cent, to Rs 2,480 per quintal with an open interest of 3,270 lots.

(With inputs from agencies.)