Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Wednesday increased by Rs 16 to Rs 2,038 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 16, or 0.79 per cent, to Rs 2,038 per quintal with an open interest of 18,030 lots.

For delivery in February, cottonseed oil cake gained Rs 14, or 0.68 per cent, to Rs 2,059 per quintal with an open interest of 90,790 lots.

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