Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Tuesday increased by Rs 2 to Rs 2,001 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 February traded up by Rs 2, or 0.06 per cent, to Rs 2,001 per quintal with an open interest of 92,290 lots.

For delivery in March, cottonseed oil cake traded higher by Rs 4, or 0.2 per cent, to Rs 2,029 per quintal with an open interest of 24,640 lots.

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

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