Cottonseed oil cake futures up on spot demand

Cottonseed oil cake prices rose by Rs 17 to Rs 2,839 per quintal in futures trade Friday on accumulation of fresh positions by operators, in sync with bolstering spot demand. Rise in demand from cattle-feed makers amid low stocks positions aided the uptrend in cottonseed oil cake prices, analysts said.

On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for August delivery traded higher by Rs 17, or 0.06 per cent, at Rs 2,839 per quintal with a business turnover of 61,120 lots. Similarly, cottonseed oil cake for September delivery rose by Rs 34, or 1.24 per cent, to Rs 2,781 per quintal with an open interest of 18,020 lots.