Cottonseed oil cake futures move up

Cottonseed oil cake prices added Rs 10 to Rs 1,468 per quintal in futures trade today as traders were engaged in expanding bets in tune with upbeat physical sentiment.

According to market experts, tight stocks position due to pause in supplies, powered by frantic buying by cattle-feed makers at spot markets encouraged traders to build up long positions.

At the National Commodity and Derivatives Exchange platform, cottonseed oil cake delivery for July gained by Rs 10 or 0.69 per cent to Rs 1,468 per quintal, clocking an open interest of 1,349,160 lots.

In a similar way, the delivery of the immediate contract June advanced by Rs 5.50 or 0.38 per cent to Rs 1,440 per quintal, showing an open interest of 64,690 lots .