Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Thursday increased by Rs 41 to Rs 1,983 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 December traded up by Rs 41, or 2.11 per cent, to Rs 1,983 per quintal with an open interest of 31,720 lots.

For delivery in January, cottonseed oil cake rose by Rs 44, or 2.25 per cent, to Rs 2,000 per quintal with an open interest of 13,650 lots.

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