Cottonseed oilcake futures bounce Rs 40

Cottonseed oilcake prices went up by Rs 40 to Rs 1,999 per quintal in futures trading today after speculators raised their bets in line with a firming trend at the spot markets.
Marketmen said the rise in cottonseed oilcake prices at futures trade was mostly attributed to a firm trend at the spot markets on the back of robust demand from animal feed makers amid tight stocks.
At the National Commodity and Derivatives Exchange, cottonseed for delivery in January next year surged by Rs 40, or 2.04 per cent, to Rs 1,999 per quintal, with an open interest of 51,870 lots.

Also, delivery in December rallied by Rs 39, or 1.98 per cent, to Rs 2,013 per quintal, having an open interest of 36,820 lots.