Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Wednesday increased by Rs 11 to Rs 2,118 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 11, or 0.52 per cent, to Rs 2,118 per quintal with an open interest of 77,510 lots.

For delivery in March cottonseed oil cake traded higher by Rs 9, or 0.42 per cent, to Rs 2,144 per quintal with an open interest of 70,880 lots.

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