Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Tuesday increased by Rs 6 to Rs 2,093 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 6, or 0.29 per cent, to Rs 2,093 per quintal with an open interest of 55,010 lots.

For delivery in February, cottonseed oil cake gained Rs 4, or 0.19 per cent, to Rs 2,121 per quintal with an open interest of 48,290 lots.

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