Cottonseed oil cake futures gain on upbeat demand

Cottonseed oil cake prices were up by Rs 7.5 to Rs 3,606 per quintal in futures trade on Friday due to accumulation of positions amid upbeat trend at the spot market. Marketmen said raising of positions by participants amid a rising demand from cattle-feed makers mainly influenced the prices here.

At the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for September delivery advanced by Rs 7.5, or 0.21 per cent, to Rs 3,606 per quintal with an open interest of 15,490 lots. However, the cottonseed oil cake contracts for October delivery slipped by Rs 4.5, or 0.21 per cent, to Rs 2,123 per quintal in 37,750 lots.

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