Cottonseed oilcake futures rise by Rs 58 on aggressive buying

Cottonseed oilcake prices rose by Rs 58 to Rs 2,400 per quintal in futures trade today as participants enlarged their positions, taking cues from firm physical markets.
At the National Commodity and Derivative Exchange (NCDEX), cottonseed oilcake for delivery in May month contracts flared up by Rs 58, or 2.48 per cent, to Rs 2,400 per quintal, with an open interest of 4,250 lots.
Also, most-active delivery for February shot up by Rs 50 or 2.23 per cent to Rs 2,295 per quintal, in an open interest of 86,700 lots.
Marketmen attributed the rise in cottonseed oilcake prices to widening of positions by participants amid a firm trend at the spot markets on robust demand.