Cottonseed oil cake prices rebounded by Rs 22.50 to Rs 1,765 per quintal in futures trade today as investors collected holdings at lower levels, inspired by robust demand in the spot markets.
Marketmen said, brisk demand from animal feed makers amid shortage of ready stocks in the spot markets, motivated traders to create positions at lower levels, which drove an upward trend in the cottonseed oil cake futures prices.
At the National Commodity and Derivatives Exchange platform, cottonseed oil cake delivery for the most-traded near September short up by Rs 22.50 or 1.29 per cent to Rs 1,765 per quintal, with an open interest of 1,04,490 lots.
Also, the delivery for August bounced back by Rs 21 or 1.23 per cent to Rs 1,735 per quintal, in an open interest of 50,030 lots.
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