Cottonseed oil cake prices rose to Rs 2,600 per quintal over strong demand

Cottonseed oil cake prices rose by Rs 17.5 to Rs 2,600 per quintal in futures trade Monday as speculators widened 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 August advanced by Rs 17.5, or 0.68 per cent, to Rs 2,600 per quintal with an open interest of 960 lots. Cottonseed oil cake for delivery in June also went up by Rs 25, or 0.98 per cent, to Rs 2,571 per quintal with an open interest of 4,810 lots.