Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Thursday increased by Rs 20 to Rs 2,055 per quintal in futures trade as speculators created fresh positions driven by firm spot demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in January traded up by Rs 20, or 0.98 per cent, to Rs 2,055 per quintal with an open interest of 14,010 lots.

For delivery in February, cottonseed oil cake gained Rs 13, or 0.63 per cent, to Rs 2,076 per quintal with an open interest of 93,450 lots.

Marketmen said raising of positions by participants amid a rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.